Just Mortgages Labour Manifesto comment

13 June 2024

Following the release of the Labour Party manifesto, we have a comment from Just Mortgages.

Just Mortgages is one of the largest mortgage brokers in the UK, with more than 650 advisers working across both employed and self-employed divisions. It is part of Spicerhaart, the UK’s largest independent estate agency and property services group.

John Phillips, CEO of Spicerhaart and Just Mortgages, said: “As promised there were few surprises. Labour have pledged to build 1.5 million homes, to the Conservatives 1.6 million, aiming to build at least 150,000 affordable homes per year, with a focus on social housing and council homes.

“Given the government's history of failing to meet housebuilding figures, it is encouraging to see Labour reinstate the mandatory house-building targets, it will be interesting to see how they implement “bulldozing” through planning rules to achieve this.

“While Labour appears committed to improving supply, there appear to be few practical steps to help first-time buyers get on the property ladder. Compared to the Conservatives’ reintroduction of the help-to-buy scheme or their pledge to abolish stamp duty, there seem to be few stimulants for affordability.

“Labour’s clear housing focus is on renters and supply, but questions remain about affordability and whether or not these pledges can stem the bleeding in the spluttering housing sector.”