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Moneyextra News
Dramatic increase in lending to first-time buyers, CML finds

Dramatic increase in lending to first-time buyers, CML finds

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CML welcomes mortgage scheme

CML welcomes mortgage scheme
The Council of Mortgage Lenders CML has supported plans by the Scottish government to give more people access to cheap mortgages.

As part of the move, the national authority has agreed to pledge funds to the development of a mortgage indemnity scheme for new build properties in the country.

CML said that with a constrained market, it is encouraging to see support for a proposal that will help more people fulfil their aspirations to become homeowners and find cheap mortgages.

"We look forward to working with Homes for Scotland and its advisers on the scheme. While much work still needs to be done in developing the details, this is a promising step," said CML policy consultant for Scotland Kennedy Foster.

Meanwhile, the Land Registry has announced that average house prices for England and Wales fell by 2.2 per cent year on year and dropped by 0.4 per cent between April and May.ADNFCR-2088-ID-800603439-ADNFCR

Moneyextra.com recommends you take independent financial advice before acting on any article

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2011-06-29 13:21:50 © Moneyextra.com

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