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The global financial crisis of 2007-08 was triggered by sub-prime mortgage mis-selling in the US and the global sale of these debts as new bonds.
Austerity programmes are designed to reduce the borrowing that governments undertook to stabilise failing banking systems but the UK’s Coalition government is using ‘austerity’ as a cover to dismantle the welfare state. Housing is at the forefront of these changes. Mortgages and rental costs are rising as ‘the market’ dictates them, while people with low incomes now receive substantially less financial help from the welfare state.
In this much-needed text by an experienced author with a policy background, current housing finance issues (and their history) are linked with broader social policy and political themes. It covers the finance of building and refurbishment, managing and maintaining property for all the different tenures (owner occupation, council housing, housing association and private renting), and discusses whether current arrangements are sustainable. Written for housing, social policy and politics students and staff, it is also accessible to anyone concerned about housing in Britain today.
claiming Jobseeker’s Allowance or living on income support or disability living allowance, payment of mortgage interest within these benefits was started 13 weeks after arrears first appeared (rather than after 9 months, as previously). • The mortgage limit up to which mortgage interest could be paid within these benefit payments was increased from £100,000 to £200,000. • A fixed rate (above most mortgage interest rates) was introduced to calculate the interest payable in this way. The government agreed with ‘major lenders’ that they would wait three months
, despite much criticism. The disability charity Scope commissioned research just before the Paralympic Games in 2012. It revealed that almost half of disabled respondents (46%) reported that attitudes towards them had worsened over the previous year. Many had experienced aggression, hostility and name-calling from other people and many had been challenged by strangers in the street about the support they claim. Richard Hawkes, the Chief Executive of Scope, said: It is telling that these figures come as the Government continues to put the issue of weeding out
other source of money was available. Only about a half of the gross equity released had been reinvested in housing (Smith, 2005, p 7). The housing-related areas where these funds were used included: • major repairs or improvement, especially as government grants for this declined and then disappeared (see Chapter Three); • paying off more expensive debts to ensure that the mortgage could be paid; • contributions to alterations that might improve the physical layout and/or facilities for a homeowner or family member with a disability (see Chapter Three
Ireland to pay for mobility adaptations to their homes. If householders satisfy particular eligibility requirements, the payment of a grant is mandatory (that is, the local authority has to pay it). The ring-fenced disabled facilities grant budget was slightly increased by the government in the 2010 CSR (to £185 million in 2014/15), but this does not keep pace with inflation or with the need for help. Each local authority’s entitlement is calculated by reference to the number of householders claiming specific disability benefits living within the authority
