‘30% fewer mortgages this year than in 2008’

"The reasons for this are two-fold; low consumer confidence and a lack of appetite to lend from the banks. With job security declining for many, we can’t expect floods of people to be looking to move house or buy their first property, and even less will be investing in property.

"Lenders, too, show no real sign of changing their attitude, and are still excluding those with little equity or deposit.

"There needs to be a plan to ensure those who want and can afford a mortgage, are able to get one.

"The focus of lenders must be turned away from equity and onto affordability. If borrowers are in a strong financial position and can demonstrate mortgage affordability, should they be penalised for only having a small deposit? Gordon Brown seems to think so, as do most of the major industry lenders, but it is this view that is proving to be the first stumbling block on the road to recovery."

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