25 Feb

Government 'must provide more mortgage support'

Government 'must provide more mortgage support'

There have been calls for the government to provide more support to all areas of the mortgage market.

Following news earlier this week that nationalised bank Northern Rock is to boost its mortgage lending by £14 billion in the next two years, executive director of the Intermediary Mortgage Lenders Association Peter Williams said the government is still not doing enough to help those most in need.

Mr Williams stated that the market is suffering from a funding shortage and that ministers are failing to tackle "the root of the problem".

"The government must extend their support for the mortgage market to include the full range of lenders including non-deposit takers - it will free them up to offer specialist products," he remarked.

Such calls may be being heeded by the government, following news reported by the Financial Times.

It said that Lloyds TSB and chancellor of the exchequer Alistair Darling are in talks to agree a new deal that will see the bank increase its lending capacity.ADNFCR-1222-ID-19045412-ADNFCR

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