The government’s reforms for the property market have been criticised by a lobby group.

Katy John, from the PricedOut organisation that campaigns for more affordable housing, described the changes as a “sticky plaster” that fails to address real problems.

“Why has Gordon Brown introduced a series of measures to prop up a volatile, unsustainable market?” she commented.

She discouraged first-time buyers from taking up the new schemes and urged ministers to tackle debt-related issues such as irresponsible lending.

It would be better for the government to focus on regulating mortgage lending and building more homes, she added.

A new scheme called HomeBuy Direct has been introduced to help up to 10,000 first-time buyers onto the property ladder.

Those with a household income of under £60,000 can get an equity loan of up to 30 per cent of the value of their home.

By Jamie Price

By News Team and is filed under Houses and Mortgages.
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