Banks won?t join ?Help to Buy? says former CML head

Ministers? flagship ?Help to Buy? housing support scheme is set to be undermined by banks refusing to take part, the former head of the Council of Mortgage Lenders has warned.

The scheme, which has been compared to the US?s Fannie Mae and Freddie Mac, was the centrepiece of the March budget and could see government guarantees on some �130bn of home loans over three years.

But after two months the banking industry is still unclear on the precise mechanics of the scheme, not least how much money banks will

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Source: http://blogs.ft.com/westminster/2013/05/banks-wont-join-help-to-buy-says-former-cml-head/

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