«Mortgage insurance allows Canadians
across the country,
in rural areas and big cities, to have the same opportunities to access
home ownership and at the same interest rates as people who can afford to put down a 25 % down payment,» says Pierre Serré, chief financial officer of CMHC.
These measures, together with the Localism Bill that extends to a community right to build
across England rather than just
in rural areas, and the New
Homes Bonus that offers cash to councils that allow new
homes to be built
in their
area, demonstrate the Government's determination to respond to the chronic national housing shortage, and to encourage property development.