Mortgage funding the lifeblood of the housing market continues to flow sluggishly resulting in a chronic market malaise. Politicians, as ever, are keen to restore the patient to health. Cue the latest “Newbuy” initiative whereby the government (for which read tax payer) will effectively stand as guarantor for a select few of the so-called “boxed-in generation” (those who would like to trade up but cannot afford the average 15-20% deposit). Designed to entice Lenders to advance on a 95%LTV basis it is claimed the scheme could help up to 100,000 current and prospective homeowners. The catch is that only newly built properties are eligible so if you want to buy a period property on the second hand market then tough! The house builders must be laughing all the way to the bank.