Joined-up approach 'will help mortgage market'

Posted: 03 Nov 2011 12:27:12 GMT

The government and market forces could team up to help the UK mortgage market, it has been claimed.

The mortgage market in the UK would benefit significantly from a joined-up approach by the government and other sector forces, it has been suggested.

Paul Smee, director general at the Council of Mortgage Lenders - which is a not-for-profit organisation whose members are accountable for almost 95 per cent of all residential mortgage lending carried out in the UK - noted regulators, industry figures and the Conservative-Liberal Democrat coalition could work together to encourage conditions that will serve to improve the sustainability of the sector.

The industry figure explained improved settings can be attainable with the right amount of effort, which can help to overcome the considerable hurdles posed by negative sentiment and regulation.

He observed, however, that the government should not position itself as the designer of a solution, adding: "If it defines its role as being a catalyst, a prodder and pusher of others, then it can maximise its impact. I have seen this in several markets."
 

© Houseladder Ltd