The best thing about the Lib Dems? We do our fighting in public

Osbornomics, tuition fees, Trident, the 50p tax rate, nuclear power. Whatever you think of the Lib Dems, you can’t say we hide our debates away.

So, a former minister of state has announced she won’t stand again for election in protest at the leader who sacked her (with half the membership yelling 'disaster' and the other half muttering 'on your bike'); the party president has been making big cow eyes at the Labour leader, while our Home Office minister has been doing similar to the Conservatives. There appears to be a Christians vs. the Lions debate raging in the party. Oh, and Matthew Oakeshott says Nick should resign.

It can only be conference week for the Lib Dems.

And what a corker of a conference awaits, with rows galore on the horizon. Of course the main event is the economic debate on Monday, with Nick summing up in an argument that’s been billed as Osbornomics vs. Plan B. The Social Liberal Forum has mobilisaed to defeat the leader, Nick’s rumoured to have performed what’s known as the 'Shirley Williams manoeuvre' to get Vince in as air cover. But no one seems to know for sure if it's true, or who is actually going to lead the debate. All we do know for sure is: There Will Be Blood.

And that’s just for starters. Members are being invited to give tuition fees their blessing (fight), recommend the introduction of porn filters (fight), keep Trident (already looking like the leadership’s retreating), back the bedroom tax (fight), bring back the 50p tax rate (Mr. Farron says Yes, Mr. Laws says no…). The list seems endless. Oh, hang on I’ve forgotten nuclear power. And Europe.

And it all happens in the full glare of the media.

You can keep your set piece speeches, fake debates and backroom deals. Whatever you think of the Lib Dems (and after a couple of years blogging here, I’ve a fairly clear idea), you can’t say we hide our debates away.

They’re full on, frank and there for all to see. There’s no conference quite like it. And deep down – I bet you’re all a bit jealous. 

Richard Morris blogs at A View From Ham Common, which was named Best New Blog at the 2011 Lib Dem Conference

Nick Clegg and Vince Cable during a visit to the Ricardo Engine Assembly plant on September 24, 2012 in Shoreham-by-Sea. Photograph: Getty Images.

Richard Morris blogs at A View From Ham Common, which was named Best New Blog at the 2011 Lib Dem Conference

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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.