Tuesday, November 16, 2010
Maybe the banks would lend more if they built better-quality homes
Mike Farley, chief executive of Persimmon, the UK's second largest housebuilder, said home buyers were still finding it difficult to secure mortgages, particularly on new homes. "It makes absolutely no sense that some lenders won't offer as high a mortgage on a new home as they will on a second hand house. We need more competition to change this," said Mr Farley. Total completed home sales for the year are expected to reach about 9,400, compared to 8,976 in 2009.