3 million additional houses pledged
Housing now at the top of the political agenda!

Gordon Brown has pledged to build 3 million additional houses by 2020.Unveiling a blueprint for his first year in power, the prime minister has put housing at the top of the political agenda as he announced plans for three new bills to tackle the shortage of affordable homes.

In a Commons statement lasting less than 10 minutes, Mr Brown announced new laws to overhaul the planning system and to encourage local authorities to provide more affordable housing, Mr Brown demanded a 25 per cent increase in the number of new homes being built over the next 13 years, bring the total to 3m by 2020.

He said that the government would be releasing 550 publicly-owned, brownfield sites for housing development.

There will also be a new regime on "covered bonds" to help mortgage lenders finance 20 - to 25 - year fixed-rate mortgages.

This article is for your general information and use only and is not intended to address your particular requirements. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without appropriate professional advice after a thorough examination of their particular situation. Budget 2007 information included in this article is subject to the Finance Bill becoming law. Your home may be repossessed if you do not keep up repayments on your mortgage.

Article date: 07.07