Prime Minister David Cameron’s plan to bolster U.K. homebuilding through investment and mortgage guarantees was hailed as a “lifeline” by an industry group after it was introduced yesterday. Shares in all the largest house builders fell.
Loans to U.K. first-time homebuyers could double if insurers offered protection to banks against borrowers defaulting, according to Lloyds Banking Group, the U.K.’s largest mortgage provider.
Bovis Homes Group Plc, a U.K. homebuilder, said sales are improving faster than expected this year as government initiatives to boost homebuying start to have an effect.
"This will be a very rich channel for us to find potential customers."
- Barratt Developments Plc on Jan 22, 2012