At the speech, “The future of the mortgage market” at the Mortgage Expo 2009 in the Olympia Conference Centre, London, Peter Williams, executive director at IMLA, said a shortage of funding and rules which make it harder for lenders to enter the sector may result in borrower exclusion.
Williams added that the main issue which was causing this exclusion was a lack of funding as lenders remain conservative.
He said: “Risk seems to have a strong grip around the throats of lenders. There is a continuing risk aversion and a tight control on funds. This has resulted in only a very slow increase in mortgage funding.”
He added that the industry needed to tackle the issue of the lack of funding in the market and IMLA, as a representative for intermediaries, was in a good position to do so.
