Adam Price’s Blog

The Blog of Adam Price AS/MP, Carmarthen East and Dinefwr

Adam Price MP / AS - Carmarthen East and Dinefwr

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Adam calls for local authorities to offer mortgages

Local MP Adam Price has called on local councils to seek to offer mortgages to buyers, especially first time buyers that are struggling to access homes due to the current economic climate.  The Plaid MP says that councils could offer a mortgage scheme, guaranteed by the National Assembly for Wales, which would offer a real opportunity for first time buyers in the county.  Adam will be meeting with Jocelyn Davies AM as the Minister for Housing for the One Wales Government to discuss the matter further.

Adam Price MP said:

“Last month saw the lowest number of first time buyers purchasing a property since records began.  The issue of affordable housing has always been very difficult, especially here in Carmarthenshire, but even more so since banks have been requesting larger deposits because of the credit crunch.  Even though house prices are falling banks are requesting anything upwards of a 10% deposit pricing many out of the market.”

Adam added:

“There is a legal right for councils to offer mortgages and I think it could be a very beneficial tool for councils to do so again, as they did between the 1950s and 1980s, in order to help people onto the property ladder.”