Newcastle hints at mortgage lending plans
Newcastle City Council could offer mortgages to people interested in forming a co-operative housing group.
The service, part of the city's plans to become a 'co-operative council', would be aimed at people who are prepared to take on a mortgage that covers both the cost of local properties and the refurbishment of run-down housing.
Other councils have set up schemes to help residents buy homes, many focussing on providing young couples, for example, with deposits.
Cllr Nick Forbes, Newcastle’s Labour leader, this week told LocalGov.co.uk sister title The MJ that the city's proposals would go one step further and provide direct mortgages for run-down homes which could help the council regenerate deprived areas.
Yes we all pay 25% of CT to cover it. If you want a DB pension, pay the rate for it . .J Smith, Added: Monday, 10 October 2011 01:34 PM
Fact check please! Local Government Pension Fund is funded. Unfunded is generally the preserve of WhitehallAndrew Snow, Added: Friday, 7 October 2011 02:38 PM
Is this what taxpayers want? Is this what Councils have decided, if so how and why? Most taxpayers want the minimum of efficient services, not Councils extending into areas where they can get burnt, like unfunded state employee pensions. What happens when the usual suspects default on their mortgages? How come Council workers have now become competent at mangaing Mortage provision. When there is real doubt on their ability to provide amny other services. Labour Council and it stinks ..J Smith, Added: Friday, 7 October 2011 02:22 PM
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