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Monday, 29 April 2013

David Cameron forced to defend Help to Buy

Prime Minister David Cameron has been forced to defend the government’s under fire Help to Buy scheme after continued criticism.

He said that the scheme would simply help people get onto the housing ladder and would not encourage reckless lending.

Council of Mortgage Lenders chairman Nigel Terrington added his voice to the criticism of the scheme on Friday, saying the government needed to abandon ‘sound bite' mortgage and housing policies.

"For political reasons over recent years we have seen the rise and fall of many housing and mortgage schemes; in fact, more policies - and more years - than many of us will care to remember," he told an audience in London.


Wednesday, 3 April 2013

Building societies almost double mortgage market share

Building societies now constitute 21.5% of the gross mortgage lending market - nearly double their financial crisis level, according to new analysis by housing investment and shared equity mortgage provider, Castle Trust.
In 2009 their share of gross mortgage lending dwindled to just 12.9% - the lowest in over a decade – as lending was restricted. But lending has now recovered strongly and is close to the 22.6% achieved in 1999.