Mortgage broker John Charcol says the Government is demonstrating a "complete failure" to understand the current state of the housing market after research suggested up to 3.5 million households are unable to move.
The firm says millions of families are "stuck" in their current properties due to a combination of a lack of equity in their property and restrictions on access to mortgage finance. It says last week's Treasury Select Committee report ‘Mortgage Arrears and Access to Mortgage Finance' has misrepresented the current plight in the mortgage arena. "Lord Myners demonstrated his complete failure to understand the current state of the market by his comment there is a ‘very competitive market for mortgages'," John Charcol's Ray Boulger says. "It's extremely worrying that someone who is hel...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
