We are from the council and want to give you money
In a letter published in today's Times, Council chiefs argue that the public sector should be able to help first-time buyers and those unable to secure a home loan.
"Councils are already supporting much needed community facilities, including rescuing local post offices from closure and investing in the retail and transport infrastructure. Allowing local government to carefully intervene and support homeowners is a sensible step which we urge ministers to consider seriously."
...Critics believe that the move could lead to higher council tax if borrowers defaulted.
A bunch of amateurs providing mortgages to those who can't get them elsewhere for political and social engineering reasons, where do I invest? Oh sorry, I forgot, I don't have the choice, they want to mulct the money for the scheme from the taxpayer with the force of the State backing them.