TUC call for gov't mortgage support

The government should take action to ensure consumers can get access to affordable mortgages, according to the Trades Union Congress TUC.

Commenting after the Land Registry House Price Index indicated that values in the north of England have been most affected by the recession, TUC general secretary Brendan Barber said there were continued problems with banks giving their customers credit.

He said that around 60,000 homes were sold every month last year, but now this has fallen to about 40,000.

Mr Barber stated: "The government needs to keep putting pressure on banks to lend their customers money to keep the housing market and the wider economy moving.

"We also want to see the current fiscal stimulus maintained to move the UK out of recession as soon as possible."

Julius Sen from the London School of Economics claimed this week that UK gross domestic product growth will recover soon.

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2009-09-30 09:58:05 © Moneyextra.com