Mortgage lending cap 'may miss the problem'

16 June 2010

Written by Gavin Elley

Responding to speculation that the Bank of England is considering imposing caps on the way that banks lend mortgages, one organisation has said that limiting home loans may be an action that focuses on the wrong area.

The Council for Mortgage Lenders (CML) said today (June 16th) that the current market is not one that readily takes risks and any appetite for such behaviour will already be assuaged by other measures internationally and domestically that are already underway.

Michael Coogan, director-general of the body, commented: "Policymakers need to be very careful to avoid trying to solve the wrong problems," adding that the largest issue for the mortgage market in the future will be raising enough funds to provide loans, rather than engaging in irresponsible lending.

Indeed, those seeking a buy to let mortgage may be benefited by going through a broker, as Rose Murray-West told the Daily Telegraph recently that some deals are only accessible through intermediaries.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.