Local Estate Agent, Housesetc backs up a claim that the public is furious with banks and building societies for preventing home ownership, following findings in a poll commissioned by the National Association of Estate Agents (NAEA).

The independent survey of 1800 people found that the majority – 58 per cent – believed banks must begin lending more readily if the UK is to pull out of the property slump. Almost a quarter of people – 22.5 per cent – said that they were unable to find an available mortgage for anywhere in the market. And 56 per cent of those polled believed that a combination of relaxed restrictions and lower deposit requirements would increase the chance of them buying a property.

Commented David Leake MNAEA Director at Housesetc, “We are speaking with hopeful buyers on a daily basis who are unable to obtain suitable mortgage finance. One of the main problems is the size of deposit required by purchasers, those most severely affected being first time buyers and buy to let landlords who both realise that now is an excellent time to purchase. The banks risk stifling the market’s recovery and in my opinion the Government should pressure them into lending to some degree, after all some of these institutions are massively indebted to public finances!”

Nigel Adams, Selby’s prospective Conservative MP added “The banks seem to want it all ways. They banks need to start acting in everyone’s interest and lend responsibly to people who want to either get on the ladder or move up it. The Government should be acting to ensure they do so, especially with the banks that have had billions of taxpayers money

Peter Bolton-King Chief Executive of the NAEA said, “We cannot let the banks convince us that shutting up shop when it comes to mortgage lending is a responsible move. The Government have to do more to put pressure on those banks that are refusing to lend, while highlighting those banks that are easing restrictions to help get the economy moving again. It is time to accept that responsible lending to responsible people is necessary for the country. “It is no secret that many people consider bankers to be responsible for the mess the economy is in. The very least they should do is to take appropriate steps to help us to recover.”