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Morning Briefing: Treasury considers massive Rent to Buy investment
Philip Hammond is reported to be considering a request for Rent to Buy investment, and insurers could be raising premiums on tall buildings in London
In the news
The Times reports that the Treasury is considering a request from communities secretary Sajid Javid to underwrite the cost of Rent to Buy homes in the Autumn Budget next month.
It says the chancellor is considering a request to “underwrite” £100bn borrowing for a scheme which would see Rent to Buy homes built, allowing a family to rent from a housing association on the promise that they would be able to buy at an agreed price after five years, with potential for a 15% discount.
Meanwhile, Reuters reports insurers are considering raising premiums for tall buildings in London following the Grenfell tower fire, and an article published by the London School of Economics looks at how the Help to Buy scheme has helped “mainly the privileged”.
On social media
Steve Hilditch isn’t happy about Help to Buy:
Given the enormous economic and community value of new social housing, this waste of money makes you want to weep. #ukhousing t.co/gzWWLdRNP3
— Steve Hilditch (@SteveHilditch)Given the enormous economic and community value of new social housing, this waste of money makes you want to weep. #ukhousing https://t.co/gzWWLdRNP3
— Steve Hilditch (@SteveHilditch) October 21, 2017
And the Chartered Institute of Housing’s Twitter followers think a climbdown on the Local Housing Allowance cap is the most likely major change in government policy:
Stories over the weekend suggest big policy changes in #ukhousing - all of which @CIHhousing has called for. Which do you think most likely?
— CIH (@CIHhousing)Stories over the weekend suggest big policy changes in #ukhousing - all of which @CIHhousing has called for. Which do you think most likely?
— CIH (@CIHhousing) October 23, 2017
