CML support for extending affordable housing - News at Best UK Mortgages - Wednesday, 22nd June 2005

The Council of Mortgage Lenders (CML) announced today that it supports the expansion of the government's affordable home-ownership scheme.

However the industry group urged the government to keep the scheme as simple and understandable as possible, fearing that changes would over-complicate the existing scheme.

Peter Williams, CML deputy director general. commented: "We are also continuing to explore how lenders might help to fund the equity loan element and so enable the public funding available to stretch further and help a greater number of households."

Homebuy has proved a popular incentive for buyers on low-incomes and first-time buyers and the news will be welcomed by all buyers seeking smaller mortgages.

Latest figures released by the CML show that whilst 81 per cent of people would like to own their own homes, only 70 per cent actually do so.