This government is even worse because is constantly pushing people into assuming ever higher debts when the households already have more than 100% of GDP to pay back. To use taxpayers' money to stimulate an overinflated housing market is not only incompetence, is recklessness.
Instead of making it "easier" for people to get on the housing ladder the gov should invest in building lots and lots and lots of new homes. This ladder is to high and steep and therefore dangerous for so many. Instead of forcing people up, more ladders at various slopes and step heights need to be offered.
Let's not forget that Ms Thatcher sold very well the "freedom" to own a house. Not only the rich can have a house, the servants can too. But can they? Does the bottom 80% of the UK population afford a house within 60 min commuting time to their working place and within 30 min of a good school, large enough to accommodate a 4 member family, and are they able to save 10% of their net income after they paid all their bills?
Mr Cameron wants to repeat the trick:
1) create scarcity: let's hold onto our land positions, and not allow anything to be built on it, only thus the price per sqm will continue to rise
2) create demand: tell people they must own a house, no matter what it costs
3) give them credit: use taxpayers money and regulation to give people an incentive to sign up for a mortgage. How and when they'll pay it back is THEIR problem.
The low and middle classes were led by the nose into the ownership myth, which to a large degree is nothing but velvet-covered handcuffs.