Help to Cry again

6 October 2020 By Neil Unmack Follow @unmack1

Prime Minister Boris Johnson wants to help 2 million Britons buy their first home. His ideas, from subsidising mortgages to unpicking post-crisis reforms, are risky and may make houses even costlier. His best bet would be to combine new tools with a massive building plan.

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British Prime Minister Boris Johnson on Oct. 6 pledged to make it easier for first-time homebuyers to take out a mortgage.

“We need now to take forward one of the key proposals of our manifesto of 2019: giving young first-time buyers the chance to take out a long-term fixed-rate mortgage of up to 95% of the value of the home,” Johnson said in his keynote speech to the Conservative Party Conference.

“We will help turn generation rent into generation buy,” Johnson said, adding that his policies could create up to 2 million new owner-occupiers.

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