Mortgage intermediaries dubious about affordable housing

Intermediary mortgage lenders are far from confident about the Brown government's housing policy, member research from the Intermediary Mortgage Lenders Association (IMLA) has revealed.

More than half said they had 'little' confidence in Brown's housing policy and were sceptical about verbal commitments to provide more affordable homes.

Lenders are on the whole inclined to believe "that the market, and not the government, can best provide for people's housing needs", commented IMLA executive director Peter Williams.

Mr Wiliams also linked declining trust in government statements to the "debacle" with the Home Information Packs, whose planned launch was paralysed by a legal challenge.

The re-launch of the scheme from August 1st had done little to rebuild lenders' confidence, he added.

Gordon Brown unveiled new-build proposals including the construction three million new homes by 2020 when he began his premiership in July.

"Putting affordable housing within the reach not just of the few but the many is vital both to meeting individual aspirations and a better future for our country," the prime minister said.

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