Govt 'should provide mortgage lenders with greater assistance'

Date:Monday 13th July 2009
Author: Max Freedman

The government should provide mortgage lenders with greater support in order to buoy the market, it has been suggested.

According to the Association of Mortgage Intermediaries (AMI), action is needed to help a wider group of lenders, including non-deposit-taking organisations and building societies.

Director of the organisation Robert Sinclair said: "Too many lenders, other than the six core firms, have no capacity to lend. This is adversely impacting on some consumers, who cannot access the loans they want and need."

The AMI wants the government and regulators to "look wider than the activities of a few banks" and to consider the other lenders who have able to "excellent" products to consumers in the past, he added.

Aiming to influence the opinions of decision makers and to represent the collective views of its member organisations, the AMI is a non-profit organisation.

It describes itself as "the voice of the mortgage intermediary".