Those seeking a new council house mortgage are finding that there just are not enough properties to go around. This has been the subject of heated debate between many government officials and there is no clear plan on what should be done to increase the amount of council house mortgage homes. There is a limited amount of space and many are stating that the space should go to regular homes, and not for council house mortgage homes. Opponents of this viewpoint state that without proper housing many people will end up homeless.Right now in order to get a council house mortgage, you’ll first have to find the property and then have a good enough credit rating to get an approval from the bank. Many are refusing to offer council house mortgages at this time since they are considered to be much riskier than a regular mortgage. Many have cried foul at this practice, but the fact remains that banks are doing all they can to limit their risks and right now, the council house mortgage is the first one to go, followed by subprime mortgages. This may change over the next 18 months, but until then, there is no solution in sight.
Related reading: Council House Mortgages
Comment on this article