(2) pursuant to the oral Statement of 19 January 2009, Official Report, columns 482-86, on financial markets, what plans he has to facilitate an increase in the supply of mortgage finance for investment in the private rented sector through the lending support schemes being developed by his Department.
On 19 January, the Government announced measures designed to reinforce the stability of the financial system, to increase confidence and capacity to lend, and in turn to support the recovery of the economy. These build on measures announced on 8 October last year.
These measures have helped to stabilise the credit market. This is an essential condition for banks to develop greater confidence to lend in the future to creditworthy businesses, home-owners and consumers.
The Government value and support the role of private rented sector in providing flexible accommodation for many households. In 2008 the Government commissioned an independent review of the private rented sector by Julie Rugg and David Rhodes. The Government expect to publish their initial response to their report later in the spring.
The Council of Mortgage Lenders (CML) publishes data on lending, including buy-to-let lending, available at:
http://www.cml.org.uk/cml/statistics