Investment Property News - Bueno Investments Limited

The Bank of England is planning to bail out the mortgage market after warnings that many smaller providers could close to new borrowers, it has been reported.

The bank will take over mortgage loans from lenders in a bid to ease the UK's crippled mortgage sector, according to The Financial Times.

It is thought that lenders have warned the Government, which has yet to approve the plans, that dozens of small players could be forced to stop offering new mortgages, leaving only large providers in the market.

Gordon Brown indicated that he is willing to intervene if banks, in return, offered loans to first-time buyers and those struggling to find mortgage offers.

The BoE's plan would reportedly see it swap securities backed by UK mortgages for Government bonds for a period of one to three years.

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http://www.buenoinvestments.com/uk_property_investment.php (UK Property)

http://www.bankofengland.co.uk/ (Bank of England)