Government plans rescue for housing market
Dutch government works on a new plan to prevent the collapse of the housing finance market.
2 November 2008
THE NETHERLANDS - The government is reportedly working on a plan to support the housing market, which is threatening to collapse from the effects of the international financial crisis.
Insiders say the plan includes measures to provide the building sector with more easy access to credit.
It would also make purchasers of more expensive houses eligible for the National Mortgage Guarantee Scheme.
The scheme guarantees repayments to lenders if homeowners are no longer able to repay their mortgage and their house when sold fetches less than the residual debt.
A further measure on the table is a reduction in Conveyance tax.
The Homeowners Association sees this as a good way to stimulate the market.
Radio Netherlands/ Expatica