Stop the Funding for Lending Scheme

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Stop the Funding for Lending Scheme

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The government should not be intervening in the housing market with a policy that will further expose the taxpayer to the housing market. Worse, it will hinder many aspiring to buy a first home. Why:

- The policy suppresses interest rates on savings account, including those who are trying to save up a deposit
- Increases house prices as there is no plan to significantly increase supply of housing stock
- Charge high interest rates once the interest holiday expires
- Gives the government a direct interest in the house prices remaining high (or it will need to use taxpayers money if the loans require government bailouts). This is despite the fact that the housing benefit costs taxpayers billions due to high housing costs.

Whether or not house prices go up or down, either way, the taxpayer will be left with the bill.

The government should not using and/or exposing more taxpayers' money to intervene in the housing market.

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