Long-term deals are OK but Darling should stay out of it

I recently read in Moneyfacts magazine that chancellor Alistair Darling believes over 35% of home owners would opt for 25-year fixed rate mortgages.

My question to Darling is where do these figures come from or has he just made them up?

Nevertheless, I believe we should offer clients the opportunity to take on long-term fixed rate deals as two-year products are not giving them the best options thanks to their high arrangement fees.

What annoys me is that the chancellor’s track record is not great and he should leave the mortgage market to the experts.

If he wants to help he should in¬crease the Stamp Duty threshold, especially for first-time buyers, encourage lenders to take up shared ownership or even get the government involved with 50% shared ownership schemes.

The money spent would be a better investment than some of the crackpot schemes the government has proposed.

Come on Darling, get your house in order before you start interfering with others.

John Sparks
Town & Country
By email