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Business/Trade
- "Encourage local councils to provide mortgages"
- Councils should be encouraged by the Treasury to revive their role as mortgage providers, argues former minister Chris Leslie in the upcoming Fabian Review. Leslie, Director of New Local Government Network, says a return to local authorities lending to homeowners is necessary amid the current credit squeeze — and could offer long-term benefits for council tax payers. Such a move would reverse the crackdown of Margaret Thatcher's Government against council mortgage lending. Local government operated 600,000 home loans as recently as 1980.
- Keywords: Mortgages, Councils, Finance, Housing,
- Posted by: Paul Evans on Jan 6