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CML urges Government to intervene positively in housing market

At the Council of Mortgage Lenders&#39 annual conference yesterday director general Michael Coogan said the Government should resist the temptation to intervene in the housing market unless intervention would result in lower costs, major efficiency gains, practical market improvements, or an increase in sustainable home-ownership.

He said: “It must be tempting for any Government to see the housing market as a cash-cow. But the reality is that home-owners are disadvantaged in terms of subsidy and benefits compared to tenants, despite the fact that home-ownership is no longer the tenure of privilege. If anything, there is an argument to be made that Government should provide more subsidy to home-owners, not less.”

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Building Societies&#39 Association chairman and Skipton chief executive John Goodfellow has hit out at the FSA over mortgage regulation, saying it is totally unnecessary and will be regretted by the industry. Speaking at the CML&#39s annual conference on Tuesday with FSA chief executive John Tiner and chief financial ombudsman Walter Merricks, Goodfellow told delegates the […]

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