31
Mar
Do more to boost mortgages, government urged
The government should do more to help increase mortgage lending in
the months ahead, the Royal Institution of Chartered Surveyors
(RICS) has argued.
Commenting on yesterday's Bank of England figures for February
showing an increase in home loans, RICS chief economist Simon
Rubinsohn suggested that this was a result of lower house prices
and interest rate cuts.
He added: "It is likely that the numbers of mortgages being
approved will continue to edge upwards over the coming months," but
commented that with lending levels historically low the government
should still take further action to bolster the market.
Discussing the latest mortgage market trends, press officer at the
Council of Mortgage Lenders Sarah Robson said there should be
caution before anyone declares the market to have recovered.
She stated: "We would want to see an increase over several months
before we start talking about any turnaround."
