Government 'should think twice before encouraging house purchases'

Date:Wednesday 9th June 2010
Author: Max Freedman

The National Landlords Association (NLA) has questioned whether it is a good idea for the government to encourage people to take out a mortgage on a property.

Public affairs manager for the industry body Vincenzo Rampulla claimed that there is a form of myth in the UK that everyone should own their house.

In his view, the inflated home loan prices and high deposits are evidence that it may be wise for people to turn to renting for a while before taking on the responsibility of a mortgage.

Mr Rampulla explained: "For too long the government has shouted from the rooftops about home ownership with a preacher's fervour, ignoring the need for a more balanced housing market."

He also cited the high property prices as a reason not to take out a mortgage in the current environment.

The NLA recently launched the national roll out of its new accreditation system, which provides information and support for landlords.