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Lenders welcome Scottish announcement on mortgage indemnity


Published: 12 July 2011 | Author: Bernard Clarke

We welcomed the Scottish government's recent decision to commit funds to developing a mortgage indemnity scheme for newly built properties in Scotland.

With conditions in housing and mortgage markets remaining subdued in all parts of the UK, it is encouraging to see support for innovative ideas seeking to meet the aspirations of potential home-owners.

We now look forward to working with Homes for Scotland and its advisers on the details of the scheme. While much work still needs to be done in developing the proposals, the recent announcement is a promising step.

We are now seeking to make progress on a similar scheme for England and Wales, with developers and lenders working on proposals for a joint initiative.