James Caan uses launch of new billion pound property fund as Labour’s HIPs scheme is postponed
Serial entrepreneur and television star James Caan says the Government’s quick thinking in axing Labour’s controversial HIPs scheme is a step in the right direction.
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Caan, who was in the East Midlands to launch the second phase of his billion pound interest free loan scheme, welcomed today’s announcement by housing minister Grant Schapps.
“This is good news for people desperate to move up the property ladder. The HIPs scheme was a major barrier to fluidity in the housing market,” says Caan. “I believe this is a wise move by the Government and will bring much needed liquidity back.”
James Caan’s billion pound fund, called Look4aProperty|money, offers interest free loans to people buying or selling property.
Caan’s business partner in the venture, Aaron Turner, the CEO of Look4aProperty.com, says: “HIPs have proved to be prohibitive to property coming onto the market and movements within the markets is what is needed by the UK economy at this time.”
Despite ultra low interest rates the housing market has been frozen by fear since the economic crisis first gripped the country in 2007.
Caan, who runs a number of property investment businesses, says people have been holding back because they feel they aren’t able to fund many of those unavoidable expenses associated with buying and selling property.
“These items represent an expense too far for many people. The Look4aProperty|money product is designed to remove that obstacle,” says Caan.
The scheme is available to anyone through a network of estate agents who have signed up to the fund across the UK.
