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IMLA unveils election wishlist

Michael Lloyd

November 18, 2019

kate davies imla

The Intermediary Mortgage Lenders Association (IMLA) has launched its General Election wishlist, urging the next government to fix challenges facing the housing market.

On key highlight includes IMLA wanting to see a re-evaluation of the Financial Policy Committee’s stress-testing rules.

IMLA believes the current rate of 3% plus SVR is far above the rate most borrowers will realistically pay and blocks those on lower incomes from getting onto the housing ladder.

The association also called for more properties to be built and increased discussion around the types and designs of these properties.

Kate Davies (pictured) executive director IMLA, said: “We’ve had 18 housing ministers in 20 years, but the structural challenges facing Britain’s housing market remain unsolved.

“Tackling the key issues around affordability and supply must remain a central part of the next government’s plan.

“IMLA is calling on the next government to put real focus and resources into solving the issues plaguing our housing market.

“We need the government to work with the industry to decide what happens after Help to Buy ends.

“We need to address the problems of affordability and supply. We need creative ways to get young people onto the ladder without being dependent on the Bank of Mum and Dad.

“We need to champion the crucial role the buy-to-let (private rental) sector plays in Britain’s housing market.”

IMLA encourages more dialogue between the industry and government on what replaces Help to Buy when it ends in 2023.

The association said that Shared Ownership could be part of the solution, but more work is needed on the government’s proposals for staircasing from as little as 1%.

They claim that for the scheme to work, significant volumes of eligible properties need to be built.

IMLA also wants a review of stamp duty and calls no more buy-to-let changes to give the sector some “breathing space”.

IMLA added it welcomes further investigation and support for mortgage prisoners but suggested not all are ‘trapped’.

Of those who are, some will not be eligible for products with new lenders so IMLA said the messages must be carefully managed so as not to raise expectations unduly.

Furthermore, IMLA supports the FCA’s regulatory reach being extended to give it power to require unregulated entities to comply with all of the appropriate regulation.


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