A cocktail of mortgage and economic gloom

  • Story by: Sharon Flaherty
  • Magazine: FTAdviser
  • Published Tuesday , August 19, 2008

In just a few weeks, when normal parliament sessions resume, the government will come under even further pressure to do something solid to help the UK economy.

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The New Local Government Network (NLGN) is planning to lobby the government on 8 September to allow councils to offer mortgages to those struggling under the credit crunch.

Then there's those chasing the idea that a stamp duty holiday would be a saving grace for first-time buyers, who will also try to persuade the government to apply such a measure to help newbies wanting to enter the market.

But while the MP's take their holidays at secluded retreats on tropical islands, after pretending to the TV cameras to be holidaying in the UK instead, the rest of the country is drowning in economic turmoil.

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