City Of London
UK Considers Divisive Home Loan Revolution to Rival Thatcher
- 40-year fixed-rate mortgages among next government’s options
- Home-ownership has barely increased over the past decade
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The UK could be on the brink of a housing revolution to rival Margaret Thatcher’s council house sell-off in the 1980s. It may prove just as divisive.
Plans by the ruling Conservative Party, including possible 40-year fixed-rate mortgages, are the latest part of the “property-owning democracy” idea championed by generations of UK politicians. About two thirds of households are occupied by their owners, with the ratio barely budging over the past decade as prices soared while wage growth and new homes lagged behind.