Government urged to provide more mortgage help - buy to let mortgages

14 April 2009

The government must provide increased support for the mortgage market - including residential and buy-to-let mortgages - in its upcoming budget, one expert has said.

Director at the Association of Mortgage Intermediaries (AMI) Robert Sinclair stated that as the interest rate is to remain at 0.5 per cent this month the government should look to support mortgage holders via other methods.

He stated that chancellor of the exchequer Alistair Darling should "provide direction for the UK mortgage market and help the thousands of ordinary people trapped by the continuing lack of liquidity".

Mr Sinclair suggested that consumers who have a poor credit history, too small a deposit or a high loan-to-value mortgage are those in need of most aid.

The Bank of England voted to hold the base rate at 0.5 per cent at its two-day monthly meeting last week, with the minutes of this discussion due to be published on April 22nd.

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