Consumers 'want banks to up mortgage lending'

Date:Thursday 16th July 2009
Author: Max Freedman

Many consumers in the UK want banks and building societies to increase lending, it has been found.

A survey conducted by the National Association of Estate Agents (NAEA) discovered that 58 per cent of respondents believed that lenders must provide more credit if the country is to come out of the property slump it is currently experiencing.

In addition, 56 per cent said that a combination of lower deposit requirements and relaxed restrictions would make them more likely to buy a home.

NAEA chief executive Peter Bolton King said: "The government must do more to put pressure on those banks that are refusing to lend, while highlighting those banks that are easing restrictions to help get the economy moving again."

He added that "responsible lending to responsible people", is what the UK requires at present.

Claiming to have around 10,000 members, the NAEA is a professional body for those in the estate agency industry.