Daily Archives: November 19, 2011

Jim Pickard

David Cameron is poised to announce a flagship scheme to underwrite hundreds of millions of pounds of mortgages for new-build homes in an attempt to boost the ailing housebuilding industry, according to numerous sources.

The mortgage indemnity scheme is set to be unveiled by the prime minister on Monday as the centrepiece of a wider housing review. The government will underwrite a small percentage of each new loan on newly built property, leaving taxpayers on the hook if there was to be a severe housing downturn. Read more