Ministers should intervene - buy to let mortgages

02 September 2008

The Association of Mortgage Intermediaries has called on the government to intervene in the housing market.

Those who are struggling to make repayments should be given greater support, the organisation claimed.

In a move that could affect holders of buy to let mortgages, it is calling for an overhaul of the Income Support for Mortgage Interest (ISMI) and stamp duty systems.

Chris Cummings, Director General of the Association of Mortgage Intermediaries, commented: "We are calling for a full and urgent review of the current stamp duty regime. The government should urgently review the tax thresholds."

He added that repossession should only be used as a last resort and that ministers should take a look at international models to see how they work.

Charity Shelter recently warned that lenders must take more responsibility in the buy to let mortgages sector, as repossession is threat to both landlords and tenants.