The results of the poll, which was launched in partnership with Countrywide, show that over three-quarters of intermediaries believe the Government should use their influence to enforce mortgage lending targets with banks as a pre-condition for the banks receiving support.
A total of 431 people answered the poll, with only 12.9% disagreeing with the statement. The results are as follows:
Should the Government use their influence so that banks establish and enforce mortgage lending targets as a pre-condition for receiving support?
Results:
- Strongly Agree 75.60%
- Disagree 12.92%
- Agree 11.48%
431
Nigel Stockton, Financial Services Director, Countrywide, said:
"These poll results are as I expected and Countrywide predicted. It is widely known that more appropriate credit is urgently required in the housing market. Mortgage deposit affordability remains the major factor holding back the first-time buyer market, the key driver for the rest of the market. The UK Government has significant influence over a number of lenders through the wholesale lending market and as a direct shareholder of two of the UK’s largest mortgage lenders.
“As we have lobbied consistently, the Government should use its influence so that all banks set minimum and meaningful mortgage lending targets. It is particularly disappointing that HSBC is, bravely, the only lender putting forward proper lending targets and showing support for this - a lender with no governmental shareholding."
The latest myintroducer.com poll is in partnership with Beech Introducers and asks 'What is the most important factor when choosing a master broker to package your secured loans' - answer it here.
