Chancellor calls for fair mortgage pricing
Tue, 28 Jul 2009
Alistair Darling has told banking bosses that mortgages need to be fairly priced….or else!
Senior bosses from the leading lending banks were called to the treasury for discussions about mortgage pricing and making mortgage lending more available to the public.
Darling reportedly commented, "What the Government can do … is enter into agreements which we have that mean that where there is a commitment to make money available for mortgages or to make money available for businesses, the money is actually there, that it’s flowing trough the system and it’s reasonably priced and there is the availability of funds ."
Whilst there is no doubting Mr Darlings comments are ambiguous they do appear to show a continued momentum pushing the banks into fairer lending.