Don't subsidise new-build mortgages

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Don't subsidise new-build mortgages

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Giving free 5 year loans to buyers of new-build homes is an unjustifiable use of our taxes and will mainly sustain and exacerbate the existing house price bubble. Likewise guaranteeing part of loans for people who cannot afford their debt is propping up already inflated house prices. If there is a need for more housing we should invest the money in building basic "emergency" housing for those relying on taxpayer subsidy. This housing should be kept by the state in-perpetuity rather than donating it to those who have already benefited from it. House prices need to be reduced, not propped up by the taxpayer.

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