John Gummer, the former Conservative MP for Suffolk Coastal and the chairman of the Association of Mortgage Intermediaries has claimed non-homeowners have no freedom.
Speaking at the AMI annual dinner last night he said home ownership has been one of the main strengths of Britain.
He told the audience: “Home ownership is the basis of freedom, people who do not own their own home do not have independence.”
He went on to say: “AMI is a proper representation of a great profession, which is crucial to the property owning democracy in the UK and as such makes a bigger contribution to freedom than perhaps any other profession.”
Gummer claimed people who dealt with him throughout his time in parliament could be much tougher with him if they owned their own home.
He adds: “Home ownership gives people who otherwise would not have a stake in society a real stake, it is the basis for any democratic system, it’s because people own something that matters that they are able to proceed.”
Communities and Local Government secretary Eric Pickles was also a guest speaker at the dinner, he stressed the need for a balanced approach to regulation.
He told the audience: “I never interfere with matters with the FSA, but I know from personal experience how important your role is as an intermediary in getting the right deal for your client and as we move out of recession we must ensure regulation is proportionate and reasonable and that we don’t build any additional regulation that is not necessary.”