View more on these topics

Broker Talkback

Do you agree with Bank of England governor Mervyn King that it would be wrong to inject extra liquidity into the mortgage market?Yes 50%No 50%


No “He should inject more money. Nothing is moving and I do not think he realises how many people are on the bread line.”


Bharti Doshi, Allcover Financial Services


No “First-time buyers will never get on the property ladder if they cannot get credit.”


Mohammed Dar, Burlington Financial Services


Yes “There is a suggestion that local authorities could step in to fund mortgages which may help the housing market.”


David Stokes, David Stokes


No “I think we could do with some extra investment to get some of the better deals out there.”


Jonathon Evans, Kevin Ford & Co


Yes “Things will sort themselves out in time. Pumping money into the markets is only a short-term answer and it will cost us a huge amount. Taxpayers should not foot the bill.”


Roderick Purves, IFPG


No “The mortgage market is fragile and it needs some help. There is not enough funding right now, particularly for first-time buyers, and if the Bank of England does nothing, things will continue to stagnate.”


Keith Jennings, director, Cathedral City Financial Services


Yes “Liquidity is not the answer to the issue. The banks are going to have to have another set of rights issues and we will see the markets fall again.”


Roger Marx, Freedom Financial Planning


Yes “In general terms, it is creating a false market and if you create a false market, there is a question of who is going to continue that continual funding when it runs out? It should be left up to the market to decide.”


Peter Naylor, Naylor Financial Planning

Recommended

£1.28Bn cost of nationalising Rock

A leaked Treasury document reveals nationalising Northern Rock will cost taxpayers up to £1.28bn. If the Government had agreed to a takeover by Virgin, taxpayers would have subsidised the deal with £2bn.

Domestic science

Being an investor in UK equities is not much fun at the moment. The credit crunch is having a real impact on the domestic economy and people are becoming more cautious.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment