Casino capitalism has its attractions, but is not a game one
should encourage young families with no financial reserves to play. Yet the
Government’s Help to Buy scheme is an invitation to enter the casino that is
the British property market. It is more than possible that David Cameron and
George Osborne will lure hard-working families of slender means into a gamble
which for some will end in disaster. What happens when interest rates go up, or
house prices fall, or indeed both of those things? Will borrowers who were
able, thanks to the Government’s offer to guarantee 15 per cent of a loan, to
obtain 95 per cent mortgages, still be able to cope? Read more on the Conservative
Home website.
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