Good news for first-time buyers, as government is planning to introduce an affordable housing scheme.

London (Shakespeare Finance) July 26th, 2007: According to Housing Minister Yvette Cooper, UK consumer looking for a home will have affordable options with government announcing major housing investments.

Prime Minister, Gordon Brown announced that, £8 billion has been sanctioned for a housing project, with target of building three million homes before 2020.

A well thought initiative by the Govt., this is an attempt to help families and young people to become a homeowner. With a home, people are eligible to avail a homeowner loans in financial problems.

Ms. Cooper stated that: "We need to build more homes across England. The housing shortage means first-time buyers and young families are finding it increasingly hard to get their first step onto the housing ladder,"

Looking at the adverse long-term consequences of adequate housing infrastructure, this is what Ms. Cooper had to say: "Unless we act now by 2026 first time buyers will find average house prices are ten times their salary. That could lead to real social inequality and injustice".


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