Mortgages 'notably absent' from manifestos

21 April 2010

Written by Simon Whittaker

With all the major political parties' manifestos now published, the Council of Mortgage Lenders (CML) notes that the availability of property funding is largely absent in all cases.

"Mortgage funding is the glaring omission from all the manifestos," the CML asserts.

However, it does note the Conservatives' proposal to reduce the levels of tax charged on property transactions, which may be welcomed by professional landlords keen to expand their property portfolios.

Conversely, the CML objects to the party's plan to replace the Financial Services Authority (FSA) with an entirely new agency.

With the authority currently engaged in a substantial review of the mortgage market, the CML warns that replacing it now could interrupt a process that is already expected to take many years.

"We are therefore concerned about proposals to switch the FSA's responsibilities to a new agency - which has not yet even been set up," the organisation adds.

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