Addressing the House of Lords, the Queen claimed that ‘available and affordable housing is one of my government’s main priorities’ and that there would be legislation introduced to create an agency for the creation of more social and affordable housing.
Regeneration will also be promoted and a bill to reform the planning system, providing more transparent decision-making, will be introduced.
In response, Chris Cummings, director-general of the Association of Mortgage Intermediaries (AMI), said: “Although AMI welcomes the debate on assisting borrowers, we do not feel that long-term fixed rates are necessarily the solution, nor in fact that the market is failing.
“We recommend that more study is undertaken before any proposals are progressed. With the European Commission undertaking an extensive programme of work on the credit market, the impact of the credit crunch still not clear, and the government’s building policy yet to be implemented, the market is in a vulnerable position.
The consequences of further change could be dramatic, hence our desire to work with the government to better inform policy making at this early stage.”
Luke Herbert, public policy manager at the Royal Institution of Chartered Surveyors, said: “Communities are more than properties. People must also be able to work and live their lives within a safe environment.
“The government must ensure that the new agency retains a role as an effective urban regeneration body and does not simply become a green field housing developer.”
get the daily news delivered to your inbox
download our news ticker
find the latest industry jobs
