NAEA calls for urgent action over repossessions
The NAEA is calling on the government to take urgent action to address the number of home repossessions.
More and more people are turning to the rental market in the face of the increasing number of home repossessions.
Peter Bolton King, chief executive of the NAEA, said that he hoped that the UK would follow in the footsteps of the US in cutting the number of repossessions.
"There are things that that our government can do to ease the pressure," he remarked.
Mr Bolton King has suggested that stamp duty is abolished for first time buyers and that finance should be more readily available for mortgages.
However, it could be a long time coming and in the mean time people should look for homes to rent in London.
This week, the US administration approved a package of legislation designed to support the country's housing market.
Published 1st August, 2008
© 2008 Estates IT Limited
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The NAEA is calling on the government to take urgent action to address the number of home repossessions.