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NewsArticle-24-11-2011

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CML commentary on Scottish mortgage market highlights importance of new indemnity scheme

Responding to today’s commentary from CML which anticipates a continuing constrained mortgage market in Scotland, Jonathan Fair (right), Chief Executive of home building industry body Homes for Scotland, highlighted the importance of its mortgage indemnity scheme which is set to launch formally in the New Year, saying:

“Our ‘MI New Home’ initiative, on which we have been working with the Scottish Government and CML Scotland since June, will help drive 95% mortgage lending back into the market here. Helping to create new home owning opportunities for those who can demonstrably afford mortgages but are currently excluded from the housing market due to high deposit requirements will not only deliver much needed new housing investment but also create vital jobs and stimulate economic growth.”

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