View more on these topics

Bid to revive council mortgages

Exact is calling on the government to reinstate local authority mortgage lending in a bid to kick-start local mortgage markets and take the pressure off high street banks.

It has put together a White Paper arguing that specialist lenders should white label mortgage origination for local authorities.

It wants government to divert fund-ing to reinvigorate local authorities as a force in the mortgage market.

Alan Cleary, managing director of Exact, says: “At the moment, the government is relying too heavily on just one part of the mortgage market – the big high street banks.

“Reinstating local authorities as mortgage lenders would mean the government can bypass bank red tape and get cash back in the hands of people who want to buy houses.”

Recommended

No acceptable offer for Network Data

Network Data has revealed that despite interest from a number of interested parties, it has been unable to find an acceptable offer for the network.

Newsletter

News and expert analysis straight to your inbox

Sign up