Loans not the answer, says group

Affordable homes and mortgages is what the property market needs most, not interest-free loans to cover expenses, a house price pressure group has argued.

Speaking in the wake of a tie-up offering such deals between entrepreneur James Caan and housing portal Look4Aproperty.com, PricedOut.org.uk spokesman Katy John said these are not the answer.

Ms John commented: “We should not be concerning ourselves with the housing market per se, but the underlying need for more affordable homes to be built.”

The problem with the deal between Mr Caan and the group is it is designed to perpetuate higher prices, she argued.

People should reject the notion “that high house prices are a good thing for everyone”, Ms John stated.

The comments come at a time when research has indicated that the cost of buying a house is now rising again.

Figures from the Land Registry for July have shown that the average price in England and Wales rose by 1.7 per cent that month to £155,885.

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