CML responds cautiously to pre-Budget report

06 Dec 06

The Council of Mortgage Lenders responded cautiously to today's pre-Budget report.

CML head of policy Jackie Bennett said:

"In theory, we welcome the stamp duty exemption for most newly-built carbon-zero properties. But we will need to see the detail before we can assess the impact of this measure.
"Similarly, the extension of shared equity provision is welcome. But, as the government acknowledges, it is no substitute for tackling the main cause of affordability problems, which is the significant imbalance between housing supply and demand."

Notes to editors

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 98% of all residential mortgage lending in the UK. There are 11.6 million mortgages in the UK, with loans worth over £1 trillion.