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The NI Federation of Housing Association's Chief Executive, Chris Williamson, called the Bank of England’s decision to keep interest rates at 5.75% ‘good news’ for housing.
The NI Federation of Housing Association's Chief Executive, Chris Williamson, called the Bank of England’s decision to keep interest rates at 5.75% ‘good news’ for housing.
"By keeping the rates at the present level home-owners and housing associations will be able to enjoy some stability. The previous swift increases have made it harder for purchasers, especially first time buyers, to afford home ownership.
This in turn has placed increased pressure on social housing providers and Co-ownership Housing as people have turned to them for assistance.
Consequently our members have been further affected because of under-resourcing coupled with facing higher repayments on the private loans they must use to part-finance their new and existing homes."
As the Assembly returned to Stormont the Federation called on all MLAs to work together to ensure people’s right to a roof. NIFHA recognises and fully supports the commitment given by Margaret Ritchie, Minister for Social Development, to give housing her priority.
Chris Williamson stated:
"The Federation is mindful that it is not the full responsibility of one department. We call on all Ministers, directly and indirectly involved in the provision of social housing, to work in tandem to ensure all our citizens are provided with good quality housing.
This will have a positive knock on effect on people’s welfare as their interest in the community is sustained, their sense of belonging remains and social inclusion is the norm."
For further information on the affects on social housing, please call NIFHA on 028 9023 0446 or email: info@nifha.org.
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