Lack of loans

With campaigning for the general election now well under way, it is extremely worrying that none of the main three parties has set out plans for systematically correcting the fundamental constraint which remains on housing market recovery: the overall availability and terms of mortgage finance.

Whatever the political colour of the next Westminster government, it is vital that the major problems of the mortgage market (ie the quantum of funds available and the terms of borrowing) be tackled urgently.

While recent news on stamp duty relaxation may have been welcome, the full benefit of such a move cannot be felt when credit-worthy first-time buyers are still being expected to find deposits of up to 25 per cent.

JONATHAN FAIR

Homes for Scotland

New Mart Place

Edinburgh