Banks should up mortgage lending, consumers say

Consumers want banks and building societies to increase their mortgage lending, it has been found.

According to a survey conducted by the National Association of Estate Agents (NAEA), 58 per cent of people questioned thought that lenders must provide more credit if the UK is to come out of its current property slump.

Meanwhile, 56 per cent believed that a combination of lower deposit requirements and relaxed restrictions would increase the likelihood of them purchasing a property.

Commenting on the issue, NAEA chief executive Peter Bolton King said: "The government must do more to put pressure on those banks that are refusing to lend."

It must also highlight those banks that are easing restrictions in a bid to get the economy moving again, he added.

Mr King went on to suggest that the country needs "responsible lending to responsible people".

A professional body for those involved in the estate agency industry, the NAEA claims to have around 10,000 members.