Halifax has teamed up with the Centre for Urban and Regional Studies at Birmingham University to research how mortgage lenders can help homeowners in areas of low housing demand.
The venture will work with the Council of Mortgage Lenders and the Office of the Deputy Prime Minister which are also working together to look at housing market renewal in areas of low demand.
Phil Jenks, head of mortgages at Halifax, said: ‘This is a vital project which will help us understand how to offer solutions that are viable in the long term to households in low demand areas. The research could provide tangible options for those affected. The research will contribute to Government policy in this area and aims to inform both government and the mortgage lending industry in general.’