This is made even worse by proposals being considered under the mortgage market review (MMR). The British Bankers' Association warns this would effectively exclude more people from home ownership. This will undoubtedly affect first-time buyers worst of all.
It is estimated that some 50 per cent of home loans made between 2005 and 2009 would not have been made if the new restrictions applied. Politicians must act swiftly to counter these barmy proposals and seek to ensure that investment in affordable homes is maximised.
Brian Gegan
Cairn Housing Association
York Place
Edinburgh