AMI calls for further Government action for the mortgage market

The Bank of England has decided to keep Interest rates at 0.5%. In response the Association of Mortgage Intermediaries (AMI) has called for further Government action to help consumers.

Robert Sinclair, Director at AMI, said: "With the budget less than two weeks away the Bank of England has kept its hands in its pockets and said ‘steady as she goes'.

"However, many people already have higher LTV mortgages, a difficult credit history or too small a deposit. For these people the ship is still heading for the rocks.

"We are now waiting for the Chancellor to grasp the tiller and provide direction for the UK mortgage market and help the thousands of ordinary people trapped by the continuing lack of liquidity in the mortgage market."