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Practical solution needed to encourage banks to fund mortgage lending
Fri, 23 Jul 2010
The Association of Mortgage Intermediaries (AMI) has released its latest Quarterly Economic Bulletin looking at the economy, housing and mortgage markets .

In addition to setting out concerns over the planned withdrawal of the Special Liquidity Scheme in April 2011, the bulletin also looks at the effect this will have on lending .

It also forecasts that measures intended to reduce the structural deficit will continue to be a drag on the economy.

Furthermore, the AMI said that gross mortgage lending for 2010 might not meet its previous estimation of £150 billion.

Robert Sinclair, director of AMI, commented: "All the main banks face challenges to their ability to fund mortgage lending as the Special Liquidity Scheme reaches its repayment phase early next year.

"A practical solution is required that allows a sustainable mortgage market, so that consumers can look for a property safe in the knowledge that funds might be available."

Meanwhile, Yorkshire Building Society recently launched two new best-buy mortgage deals for Britons who need to borrow up to 90 per cent of the value of their property.

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