Calls made for increased access to mortgages

06 October 2009

Written by Gavin Elley

More access to mortgage finance from major UK lenders is necessary to ensure that recent positive news in the property market is not short-lived.

That is the view of Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA).

He said that the government also needs to change its "flawed" policy on stamp duty property tax.

Mr Bolton King also suggested that Nationwide Building Society's latest property price data is evidence that the housing market is in recovery and the news that house values have inflated for five successive months "should be welcomed".

However, the estate agent representative warned: "Recovery is a fragile process and not guaranteed."

The industry expert's comments followed Nationwide's announcement that the average house price in the UK reached £161,816 in September - a 0.9 per cent month-on-month rise.

According to the building society, this is now the same average value as that reported one year ago.

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