CML news & views

The government's mortgage indemnity can help borrowers, builders, lenders and the wider economy. We therefore welcome it, and will work to try to ensure it delivers the best possible outcome.

The first-time buyer stamp duty concession is to end next March. But the decision not to extend it runs counter to many of the themes in the government's new housing strategy.

Deposit requirements could lead to a continuing decline in home-ownership, David Miles has predicted. But other outcomes are possible, we believe – including a fall in house prices relative to incomes that could spark a rise in owner-occupation.

Mortgage activity in Scotland picked up in the third quarter of 2011. Overall, however, Scottish lending remains broadly stable, but subdued.