Speaking at the CML conference this afternoon John Eastgate, sales and marketing director at Saffron, said innovation such as shared equity, shared ownership, schemes with housebuilders and mortgage indemnity guarantees were too complex and not what borrowers want.
He claimed borrowers were interested in "straightforward 95% LTV lending and all tge other stuff is just a little but too fancy and complicated".
He said: "Innovation is vastly overrated and I would massively advocate simplicity and directness and clarity."
