Javid appointed Chancellor as McVey becomes new housing minister

Javid replaces Philip Hammond who stepped down following Johnson's appointment.

Esther McVey will replace Kit Malthouse as the new housing minister.

McVey resigned as Work and Pensions Secretary in November over the government's draft Brexit deal, stating that it "does not honour the result of the referendum" and "threatens the integrity of the United Kingdom".

Robert Jenrick has also been appointed as the new Secretary of State for Housing, Communities and Local Government, replacing James Brokenshire in Johnson's new Cabinet.

Jenrick, MP for Newark, previously worked in the Treasury as exchequer secretary and this is his first Cabinet position.

Damian Thompson, Aldermore’s commercial director of mortgages, commented: “We welcome Robert Jenrick as the new Secretary of State for Housing, Communities and Local Government, in what is a critical juncture in the UK housing market. The housing market is a key indicator in how the public judge the economy and we hope the new Government continues to view it as a priority issue.

“It’s very important that we look for short, medium and long term solutions that play to not only the near term issues but that look at the consistent trends we have seen in the housing market and society over the decades.

“To solve the problems in the housing sector we will need joined-up long term strategic planning, to help deliver building a range of tenure to cater to diversifying homeowner needs, a focus on the growing challenges arising from an ageing population, and making sure this generation of young people are the last we call ‘Generation Rent.’

“Aldermore has welcomed the ambitious targets and drive for sustainability for new housing in recent years, and look forward to working with the new Secretary of State and his team to help deliver a well-functioning housing sector that meets the UK housing needs.”

Jeremy Leaf, former RICS residential chairman, added: "The personalities are not important. What we want to see is a continuation of the policies which their predecessors started - in other words, improving transactions, numbers, regulation, supply of affordable housing and improving planning processes. While they may not have much background or experience on the property side of things, the new housing minister is very high profile and hopefully keen to make as big a name for herself in the housing sector as she has elsewhere. 

"The best news of all is that they have seats in the Cabinet, although McVey won’t be a full member, which hopefully shows the importance the new Prime Minister attaches to the housing crisis."