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Friday, April 19, 2013

Builders contradict Welsh Government on mortgage guarantee scheme

The Welsh Government's reasons for abandoning its mortgage guarantee scheme started to unravel yesterday, with key building companies expressing their disappointment that the 3rd June launch date has been abandoned and questioning who exactly has pulled out so as to scupper the proposal.

Those contacted by the BBC told reporters that they were ready and willing to take part in the mortgage guarantee scheme from 3rd June and had not been consulted on the decision to drop it.

Stuart Rowlands, managing director of Redrow South Wales, said: "I was shocked and dismayed to hear the news.

"It certainly was a surprise to hear that the minister is using the reason that house builders and developers won't support the scheme.

"He hasn't been taking to Redrow certainly"

It sounds like the Minister has many more questions to answer on this decision.

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