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UK Gov Interventions Contradictory

The government’s recent interventions in the housing market have been somewhat contradictory. The implementation of the Mortgage Market Review (MMR) in April this year goes some way to explaining the fall in mortgage approvals in H2. On the flip side the help-to-buy scheme has certainly provided a boost, particularly at the lower end of the market. Looking forward we foresee strong drivers for mortgage activity, with an improving job market and likely continued low mortgage rates (thanks to uncharacteristically low inflation) providing incentives for those potential buyers sitting on the fence.