Saturday, September 24, 2011
Oh dear a call for more of the same old lending preactices
I (Nigel Stockton) was recently asked what I would do to help the property market if I was chancellor. I hadnâ€™t thought about it before as itâ€™s not something I am usually asked, but I guess I should not have been surprised as I am known for my political correctness. But as the Treasury has asked lenders and commentators for input on how to kick-start the first-time buyer sector, I thought about what Iâ€™d do if I were housing minister...........Iâ€™d probably kick off with three telephone calls to our nationalised and part-nationalised lenders. I would insist that they lend Â£500m each at 95% LTV to first-time buyers.