Friday, June 15, 2012
Commenting on the recent announcement by the Bank of England, Nigel Stockton, Financial Services Director at Countrywide said:
"It is always useful to learn that such a large headline sum of money - £80billion - appears to have been made available - and let me emphasise that this is very welcome if it goes to the areas that need it most and which will have the most impact. I will only start putting the bunting back out when I have seen how this is to be deployed.
We have been on record for some time now calling for the introduction of mortgage lending targets which would benefit both the housing market and theUKeconomy.
The market needs specific mortgage lending targets and increased gross lending targets. Without these targets, there is a real danger that this money will again be used by the banks for balance sheet management and not to increase mortgage lending."
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