The Intermediary Mortgage Lenders Association (IMLA) has urged the new Conservative government to give housing a more enhanced status.
Kate Davies (pictured), executive director of IMLA, said that with the vote concluded, now is the time for the new government to really put the spotlight on fixing Britain’s broken housing market.
Davies aid: “This doesn’t just mean building thousands more of the new homes the country needs.
“The government needs to support a new dialogue with lenders and housebuilders on what happens when Help to Buy ends in 2023.
“It also needs to recognise the importance of the private rented sector.
“However, even with a Conservative majority the challenges facing Britain’s housing market won’t be tackled by a quick fix.
“Instead, we need a long-term strategy which provides a coherent and coordinated approach to ensuring a sustainable supply of housing in both the public and private sectors, together with a robustly regulated system to ensure that buyers and renters are properly informed and protected.
“This will require significant cross-party and cross-departmental co-operation, with authoritative leadership from the highest level.
“We would urge the Prime Minister to ensure that housing is given enhanced status in his new administration, and we look forward to working with the new ministerial team.”