The Intermediary Mortgage Lenders’ Association has labelled Grant Shapps’ “Age of Aspiration” speech as “utterly aspirational”.
In June, Shapps spoke of the return of an “age of aspiration” for those struggling to get on the first step on the property ladder.
Speaking at an event hosted by the Royal Institution of Chartered Surveyors in June, Shapps said: “I believe that it is human nature to aspire to shelter and security – and for the many that means owning the roof over your own head.
“And I don’t consider it my job as Housing Minister to hold those aspirations back.
“With a new Government and despite the enormous financial difficulties the country faces, I want to state clearly today: the age of aspiration is back.”
Speaking at the Imla dinner last night, executive chairman Peter Williams, pictured, said Shapps’ claim is not realistic.
He said: “Looking at Shapps’ speech, you’re forced to reflect that that was an utterly aspirational speech. He was setting out what he’d like the world to be but unfortunately the way it looks, it is entirely possible the housing and mortgage market that will emerge is extremely different. It is at considerable odds with the emerging reality.”
Williams added: “Imla, as a body, remains deeply concerned about all of the changes going on in the market. The impact of successive waves of regulation and change will ultimately impact upon generations to come.”