National Homebuyers: 'Brown blamed for economic slowdown'

Gordon Brown has been blamed for leaving many Britons facing huge financial difficulties.

[ClickPress, Tue Feb 12 2008] Conservative shadow chief secretary to the Treasury Philip Hammond levelled the accusation at the prime minister following the publication of the latest Nationwide house price index.

The index revealed that property prices fell for the third month in a row in January, while also highlighting that demand for property has dropped dramatically.

It means that many people face the prospect of enduring a long spell of financial difficulties and Mr Hammond blames Gordon Brown.

"This will come as a major blow to families who have borrowed to their limit. Gordon Brown's economic incompetence has left Britain more vulnerable than any other large economy to an economic slowdown," he said.

"This is yet more bad news for Gordon Brown and Alistair Darling. The credit crunch in the financial markets is now having a serious effect on the real economy, depressing housing market activity and house prices," continued Mr Hammond.

Fast property sale expert Julian King adds, "I am always fascinated by how politicians spend more time blaming other politicians for problems than actually finding a solution.

"It's all so easy to get into debt today and as such there will be increased volumes of people who are affected. However the homeowner should be aware that mortgage rescue schemes exist to save them from repossession, for instance.

"The homeowner must ensure that if they are entering into a quick property sale or Sell and Rent Back agreement, they must use a reputable company. Something Mr Hammond would be better off spending his time on arguing over".

Mr King is a director of National Homebuyers and is also a founder member of APBA, the Approved Property Buyers Association, which is calling for government regulation of the Quick Property Sale and Sell and Rent Back industries.

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