View more on these topics

CML welcomes Government’s commitment to home expansion

The Council of Mortgage Lenders welcomes the announcement by the Deputy Prime Minister and the Chancellor of the Government’s commitment to encourage the expansion of home-ownership.

In particular, the CML looks forward to developing the work with the Government to expand the growth of schemes that will help buyers build up an equity share in their first home, as part of the wider process of encouraging the growth of sustainable home-ownership.

It also looks forward to responding to the consultation paper launched today as part of its ongoing work with Government.

The CML has consistently argued that Government policy should do more to reflect the aspirations of people to home-ownership. Its most recent research shows that 81 per cent of people aspire to be home-owners, compared to the 70 per cent rate that has so far been achieved. Helping people into long-term sustainable home-ownership not only helps fulfil the aspirations of voters but also delivers significant benefits for Government.

But the CML believes that, while welcome progress is being made, there are still details to be finalised before an expanded shared equity scheme can be successfully launched. It urged the development of a detailed project plan to ensure that the planned launch date of April 2006 is achievable and will be met.

CML deputy director general Peter Williams says:

“While the proposed expansion of shared equity through Homebuy is relatively modest, it shows a welcome commitment to expanding home-ownership that the Government and lenders can build on in future. Home-ownership will clearly be a key issue in the forthcoming general election, and encouraging the sustainable expansion of owner-occupation is a policy area that each of main political parties will need to address.”


STS urges investors to reject Pigit bid

The board of the 354.6m Securities Trust of Scotland has written to shareholders in inch-high letters urging them not to accept the hostile takeover bid from the 387.4m Perpetual income and growth investment trust.

Most adults will die intestate says Standard Life

Three quarters of UK adults could bequeath their estate to the wrong person, according to a recent study by Standard Life. Of the sample of over 1000 UK adults, 76 per cent had no will or had not reviewed it since their life circumstances had changed. Over half, 57 per cent, would die intestate, not […]

MassMutual completes Baring acquisition

MassMutual has completed its acquisition of Baring Asset Management from ING. The acquisition adds approximately 18.4bn to assets under management for MassMutual, which now exceed 185bn. Baring will continue to operate independently.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm