Homebuyers in the UK are likely to be unsettled by any plans to cap loan-to-value mortgage ratios.
This is according to Karen Barrett, chief executive of unbiased.co.uk, who was speaking in response to George Osborne’s suggestion that the Financial Policy Committee could be handed the power to implement such changes through the Financial Services Bill.
Ms Barrett pointed out first-time buyers (FTBs) in particular would be negatively affected by the move, explaining saving for a big-enough mortgage deposit is one of the main obstacles currently preventing many people from getting their foot on the first rung of the property ladder.
The industry figure noted unbiased.co.uk – whose online marketing team boast 30 years of experience in financial services – has witnessed a marked increase in enquiries from FTBs in recent months, adding a whole of market mortgage adviser will not only consider home loan products across the board, “they will also be able to look at your overall finances to suggest affordable ways for you to access the funds needed for your house purchase”
