CML: MMR proposals a "tangible and significant" market risk

The MMR is in direct conflict with the Government's claim to promote the "age of aspiration" in homeownership and will bring a smaller market with many barriers to entry, the CML says.  Figures are already showing the first significant decline in owner-occupation for many decades, it reports, with a fall of 70.9% to 68.3% of the UK population owning their own homes. "It is difficult to see how this trend could be reversed - and how we can help deliver an age of aspiration - if regulatory reform reinforces a lack of competition in the mortgage market, with a shortage of funding exagger...