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Boris Johnson’s 95% mortgages will put Britain back on course for a house price crash | Housing

This week Boris Johnson boasted that his government would “turn generation rent into generation buy” via a return to 95% mortgages for first-time buyers. In other words, easier credit to help more people buy houses.

To say we have been here before would be an understatement of epic proportions. Since the days of Margaret Thatcher, every UK government has sought to cut through the housing affordability problem with the easy and politically popular option of subsidising the demand for homeownership. Generally, this has taken the form of liberalising mortgage regulation or providing direct government subsidies for first-time buyers, most recently the various help-to-buy schemes. All have failed to bring down the price of homes.

More demand for homeownership leads to more more credit flowing into an inherently limited supply of homes. Most housing in the UK is provided at market rates by private landlords and private sector developers. These

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Boris Johnson’s 95% mortgages will put Britain back on course for a house price crash

This week Boris Johnson boasted that his government would “turn generation rent into generation buy” via a return to 95% mortgages for first-time buyers. In other words, easier credit to help more people buy houses.



a person standing in front of a store: Photograph: Guy Bell/REX/Shutterstock


© Provided by The Guardian
Photograph: Guy Bell/REX/Shutterstock

To say we have been here before would be an understatement of epic proportions. Since the days of Margaret Thatcher, every UK government has sought to cut through the housing affordability problem with the easy and politically popular option of subsidising the demand for homeownership. Generally, this has taken the form of liberalising mortgage regulation or providing direct government subsidies for first-time buyers, most recently the various help-to-buy schemes. All have failed to bring down the price of homes.

More demand for homeownership leads to more more credit flowing into an inherently limited supply of homes. Most housing in the UK is provided at market rates by

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Boris Johnson apologises after he’s left fumbling over pub garden rules in north-east England



Ralf Baumeister wearing a suit and tie


© Provided by Evening Standard


Boris Johnson was left fumbling when asked if he could clarify regulations on pub gardens in north east England amid confusion over the rules.

Tough restrictions banning “indoor mixing between households in any setting” are being enforced on Tuesday evening to help curb the spread of coronavirus in a number of areas.

“Boris Johnson left fumbling as he’s quizzed on local lockdown rules in north-east England”

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Asked to clarify whether the restrictions extend to pub gardens, the Prime Minister tied himself in knots, seemingly referring to the rule of six.

He said: “On the rule of six, outside the areas such as the north east where extra measures have been brought in, it’s six inside, six outside.

“And in the north east or other areas where extra tight measures have been brought in, you should follow the guidance of the

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