John Charcol: Mortgages could have been worse without QE

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John Charcol: Mortgages could have been worse without QE

Following the Bank of England's announcement that it intends to pour more funding into its quantitive easing (QE) programme, it has been claimed that the UK mortgage market could be much worse off without it.

Ray Boulger, a spokesman for independent mortgage firm John Charcol, said that the initiatives taken by the committee show that it is still cautious about signs of recovery in the UK economy.

He stated that there is little evidence to suggest so far that the QE programme has "resulted in any additional lending", but admitted that it is "entirely possible that without QE mortgage lending would have been even more dire".

Mr Boulger stated that he believes it is too early to assume that economic recovery is on the way.

On the other side of the fence, Michael Baxter, an economist from Defaqto, said today that the country is likely to pull through the recession within the next few months.

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