Labour helps create nation of homeowners

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by Kay Murchie

Prime minister, Gordon Brown has said Labour has helped create a nation of homeowners.

Gordon Brown said problems with debt and mortgage repayments are not as bad as they were in the early 1990s, taking into account that nearly 2 million new homeowners had got onto the UK property ladder under the Labour governments.

Mr Brown added that many feel that there is stability in the economy and people can borrow to purchase their own homes in a situation where inflation and interest rates are low.

Three million new homes are to be built by 2020 in order to ease some of the financial problems encountered by those looking to become owner-occupiers.