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“Mortgages Today” Paul Smee Council of Mortgage Lenders

“Mortgages Today” Paul Smee Council of Mortgage Lenders. The housing picture. Residential mortgages Transaction volumes down Half of the boom Total lending £135bn – “flat” Is this the ‘new normal’?. Buy-to-let. Increased lending – from very low base Healthy sector

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“Mortgages Today” Paul Smee Council of Mortgage Lenders

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  1. “Mortgages Today” Paul Smee Council of Mortgage Lenders

  2. The housing picture Residential mortgages Transaction volumes down Half of the boom Total lending £135bn – “flat” Is this the ‘new normal’?

  3. Buy-to-let • Increased lending – from very low base • Healthy sector • 10 per cent of gross advances

  4. Aspiration 81% still want to own their home BUT Timescales are slipping

  5. Arrears: percentage of balance Source: CML

  6. Possessions Source: CML

  7. Debt advice MAS role

  8. What does the mortgage market need? • Appropriate regulation • MMR must be proportionate and not exclude groups • Interest-only – what is its niche? • No mortgage prisoners

  9. Housing strategy • Needs to be joined up • No silver bullets • All needs funding • Depends on new supply

  10. NewBuy • 95% mortgages on new build • Builder indemnity • Target group – those with income but low deposits

  11. Risks • Eurozone • Funding • “Confidence”

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