The Council of Mortgage Lenders notes the Government announcement and consultation today on starter homes for first-time buyers.
Paul Smee, CML director general, comments:
“Mortgage lenders support measures that deliver affordable ways for people to access home-ownership. This new scheme should provide a modest additional flow of lower-cost housing for first-time buyers, which we welcome. Lenders will need to consider whether there are any specific lending risks involved, and we will respond to the consultation to help ensure that the scheme is practical and workable from a lending perspective. Once it is up and running, we will help signpost first-time buyers to government website information about the scheme.”
The CML will respond to the consultation by the closing date of 9 February.