Government plans rescue for housing market

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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

2 Comments To This Article

  • K Charlton posted:

    on 12th December 2008, 10:05:23 - Reply

    Still waiting...

    Our house is on the market as we need to move next year and we have no interest, lets hope the government gets its fingers out and does something quickly for the New Year.
  • historytechdoc posted:

    on 3rd November 2008, 12:57:36 - Reply

    About time the Dutch Government started taking some action to help the currently distressed housing market.

    Now let's see if they can really put these ideas into law before it's too late for many to recover.