29
Jan
CML in first-time buyer call
First-time buyers should have got more help in the government's
recently announced proposals to boost mortgage lending, it has been
argued.
The Council of Mortgage Lenders (CML) commented that this is one of
the areas in which the plans to help increase banking liquidity
could be improved and said it is working with the government to
improve the overall package.
It suggested that a mortgage indemnity from the state could help
deal with the difficulty in raising sufficiently large
deposits.
Another CML proposal was that more should be done to support the
construction industry and provide affordable homes.
Evidence emerged yesterday that first-time buyers are keen to save
more this year to ensure they can get on the property ladder.
A survey by Abbey found that 38 per cent of those who are already
saving up for this purpose intend to put away extra amounts this
year, with the average additional monthly amount being
£203.
