Johnson pledges 'ownership revolution' with new mortgage rules

'Benefits to bricks'

Elliot Gulliver-Needham
clock • 3 min read

Prime Minister Boris Johnson pledged to turn “benefits to bricks” in a speech today (9 June), announcing upcoming changes to mortgage rules that, among other things, would allow housing benefits to be put towards mortgages.

Johnson's speech on the cost of living focused mainly on reforms to housing that he hoped would push home ownership from their record lows. The prime minister condemned figures revealing only 31% of millennials can afford their own home, The prime minister noted that taken together with the funds already committed, the government had now pledged £37bn to help with the cost of living. He added that the "bulk" of upcoming support in the cost of living crisis will be targeted to vulnerable. On inflation, Johnson said: "We will get through it, just as we got through the far greater challe...

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