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Leader: A Merry Christmas to all

With Christmas fast approaching this is Mortgage Strategy’s last issue of the year, so to get in the festive spirit we’ve produced our annual festive story.

Last year we gave you our take on Frank Capra classic It’s A Wonderful Life with former Prime Minister Gordon Brown playing the Jimmy Stewart character contemplating suicide.

That’s before he’s talked around by a devil eager to get his horns to enter hell – none other than Peter Mandelson.

This year we have produced our take on the poem, The Night Before Christmas, with the Prime Minister David Cameron taking a creative approach to balancing the books and reducing the UK’s debt -check it out on page 12.

Joking aside, since taking over from Labour in May we’ve seen a lacklustre display from the coalition. After a year of seemingly endless discussion about what the Mortgage Market Review will contain and its impact on the market, it’s only in the last month that the government seems to have taken any interest.

And even now, aside from housing minister Grant Shapps musing that the MMR would have scotched his house-buying aspirations, housing has not been on the government’s agenda.

So our Christmas wish for 2010 is that the government properly engages with industry. Rather than meaningless sound bites about supporting people’s property-buying aspirations when it’s not, it needs to articulate what sort of market it wants and work with the industry to achieve it. Our second wish is that the government works with the market to boost high LTV lending to encourage first-time buyers back. We can but hope.

Wishing you all a merry Christmas – hopefully next year will be a good one for mortgage brokers.

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