Mortgage lenders are being encouraged to lend by the govt, and then the regulator enforces strict new lending guidelines. 

The general public are understandibly confused, and particularly those looking to get onto the property market for the first time. For stability and prosperity to return the property market, we need a clearly defined framework and lending directive for lenders and banks.

This week we have had the governor of the Bank of England championing the break up of all the big banks, the regulator (FSA) banning the sale of Self Certification mortgages, Halifax selling their estate agency for £1 – what next?

I am all for throwing in the kitchen sink and starting again, but I think we are going into overkill. At this rate we won’t have a property market, now I maybe being over dramatic, but I don’t currently see much incentive to pile your lifes savings into an assett that’s so potentially unstable. We will not to see a real recovery until the mortgage market has  been sorted out.

We need the govt, the regulator and the banks to all come together in a coordinated manner and tell the british public what they are going to do for at least the next twelve months to restore some confidence in the mortgage and property market.

Getting a mortgage is going to get tougher and tougher, so get one now if you need one.

It really is one step forward and two steps back at the moment.

Your frustrated Trumpo.

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