Pete Redfern added: “The restricted availability of mortgages makes life
difficult for potential homebuyers, particularly at the higher loan to value
levels required by first time buyers. The initiative announced is the
positive result of Taylor Wimpey and the other homebuilders working together
with the Council of Mortgage Lenders and the Government and we look forward
to offering the scheme to our customers.”

David Cameron said he did not want Britons to “give up” on the dream of owning
a home, and squashed the hopes of some investors in the property industry
that the country could move towards a European model of renting property,
which would drive up rental values.

“I still think for most people they have a dream of owning their own flat
or their own home and I don’t see why we should give up that dream,” Mr
Cameron said.

However, Grainger, the UK’s largest listed residentiial landlord, welcomed the
Government’s proposals. The Coalition’s plan to boost housebuilding includes
£400m of taxpayer funds that will support the construction of 16,000 homes
by developers.

Nick Jopling, executive property director of Grainger, said: “We have a
national housing crisis on our hands, with twice as many people wanting a
place of their own than there are available. The housing strategy should
help ease the housing crisis we are in.

“We must build more good quality homes for people of all income levels. We
must build the in the right places, and they must be houses that people want
to live in.”