Briffy.com supports relaxed mortgage sector plans

Plans to allow additional online competition in the mortgage industry have been backed by Briffy.com.

David Amstell, founder of the property website, said such a development could help keep prices in check, making new homes more accessible to first-time buyers.

"One of the main reasons for property prices going up is because of all the hype that the agents put into the market. If it wasn't for agents, property prices would probably be a lot lower," he claimed.

Mr Amstell added that agents "pit people off against each other" to get a good price or to sell the property and earn their commission.

Through the internet, it is possible to skip the middle man and allow vendors and buyers to contact one another directly, he suggested.

However, the National Association of Estate Agents has criticised the plan, claiming it could lead to a fall in standards across the property sector.

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2010-02-24 13:41:38 © Moneyextra.com