22 Apr

More faint support for government plans

More faint support for government plans

Plans by the government to boost the mortgage market are a good idea but do not go far enough, it has been claimed.

The Association of Mortgage Intermediaries (AMI) stated that problems in the housing market occur not just because of lack of credit, but due to "confidence" as well.

Earlier this week, the Bank of England revealed that it will offer £50 billion in government bonds to organisations that wish to swap risky mortgage debt.

But director of the AMI Richard Farr responded and argued that alternatives could be considered.

"We have produced the White Paper because we do not believe that today's announcements, which are long overdue, go far enough," he commented.

He added that a proper functioning market may help homebuyers at present and in the future as well.

In related news, the Intermediary Mortgage Lenders Association also said that while the move will boost the property market, it has come at a late stage.ADNFCR-1222-ID-18562574-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.