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Budget 2013: What the industry wants from Osborne

With gross mortgage lending in both January and February falling this year, despite support from the Bank of England via the Funding for Lending Scheme, there have been renewed calls for the Government to go further in its support for the UK’s housing and mortgage market.

The 2013 Budget is due to be announced today so we spoke to the great and the good of the mortgage market to find what they think the chancellor George Osborne should introduce in the Budget to kick-start the mortgage market.

Join us at or on Twitter @mortgagestrat from 12.30pm today for mortgage and housebuilding news and analysis to come from the Budget.

Click below to see what the industry wants to hear from chancellor George Osborne today (Click to enlarge):


What could George Osborne announce today?

  • The Funding for Lending scheme could be “put on steroids”, in the words of deputy prime minster Nick Clegg, and extended to include non-bank lenders.
  • An extension to NewBuy beyond the March 2015 closing time and opening the scheme up to homes which aren’t new-builds – Mortgage Strategy revealed this was being considered in February.
  • More money for FirstBuy, the Government’s shared equity scheme.
  • A renewed programme of house building.
  • Increasing the maximum discount cap to £100,000 through the right-to-buy scheme.

Long shots:

  • A revamp of stamp duty away from its current “slab” structure.


MS Leader: Standing up for ourselves

Full marks to Conservative MEP Vicky Ford for doggedly trying to ensure that buy-to-let is not included with residential mortgages in the European Commission’s mortgage directive. Despite the many pieces of regulation that the UK market already has to contend with, the EU mortgage directive still hangs over it like a particularly menacing dark cloud. […]

UK inflation rises to 2.8%

The UK consumer prices index rose to 2.8 per cent in February, according to the Office for National Statistics.


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