A new grant will open up opportunities for hundreds of new council house mortgages in Britain. There is a tremendous need for council house mortgages right now as the poor are often forgotten or unable to get regular home loans on their own. As banks across the country tighten up their restrictions on lending, this move to make more council house mortgages available has been met with much relief. It is expected that demand for these homes will be quite high.Cllr Marie Wright, Halton Council’s board member for housing, said: “We are particularly delighted that the Housing Corporation has given its support to the regeneration of Castlefields, which will allow the partners to continue the outstanding work completed to date.The additional investment will also help first time buyers, many of whom are struggling to get a mortgage due to house price increases.”Housing Minister Caroline Flint, said: “We need more homes in every region to ensure first-time buyers and families have decent, affordable housing to buy or rent. This money will go towards doubling the amount of affordable homes being built over the next three years, and will increase the number of family-size and rural homes.”
Related reading: Council House Mortgages
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