Intermediaries 'should free mortgage prisoners'

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Intermediaries 'should free mortgage prisoners'

Thu 16th Jun 2011

Prospective homeowners who feel they are struggling to take their first step onto the property ladder could benefit from new proposals by Kensington.

Following the Legal and General Mortgage Club and the Association of Mortgage Intermediaries' recent campaign to encourage the public to seek professional advice, the mortgage company has called for increased action to reassure buyers about the stability of the market.

As part of the proposals, Kensington has predicted economic growth for companies, if members of the public were given more confidence about mortgage applications.

The comments come after a recent poll that revealed more than two-thirds of first-time buyers believed there was no point in seeking a mortgage due to fears of rejection.

Charles Morley, head of sales at Kensington, said: "[We] need to work harder to educate consumers about the benefits of professional mortgage advice and how to access that advice."

The company aims to provide suitable products for members of the public who may have been turned down by previous high street building societies.

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