Govt mortgage indemnity scheme 'will not work'
www.moneynews.co.uk > Mortgages > Govt mortgage indemnity scheme 'will not work'
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Govt mortgage indemnity scheme 'will not work'
Mon 5th Dec 2011
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Thomas Becket, chief investment officer of PSigma Investment Management, said the lessons of the last decade have not been learned, with a return of 95 per cent loan-to-value (LTV) ratio mortgages causing possible headaches in the future.
He commented: "From my own perspective: is this going to force banks to offer more loans in a period when they are de-leveraging? I think probably not."
Mr Beckett added that with a recession looming, this is possibly not the best course of action for the government - and the property sector in general - to take.
Meanwhile, Gavin Elley, relationship manager at Mortgages for Business, recently told attendees of the Landlord & Letting Show in Birmingham that the average LTV for those in the buy-to-let sector is likely to be 75 per cent in the coming year, as lenders react to the tough economic climate.
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