The Association of Mortgage Intermediaries (AMI) has called on the Chancellor to introduce measures for the mortgage market in his annual budget, due next week.
AMI says the results of the credit crunch could hamper the ability of people to get mortgages and they will become considerably more costly for consumers. Richard Farr, director of AMI, says: “The mortgage market is going through a turbulent period, largely due to the effects of the liquidity crunch. Lenders have said on the record that they are looking to improve their margins rather than increase market share, so while bank rates have been falling, last week actually saw an increase in the variable rates being charged by some lenders.” Farr has called on the Chancellor to take action in...
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