"It is particularly important therefore to improve access to the market for first-time buyers in Scotland,"
He also welcomed the work done to improve the home-buying process in Scotland through a single seller's survey and a purchaser's information pack (see note to editors). Mr Coogan added:
"It is in all of our interests to ensure changes to the process will improve efficiency, not undermine the market."
Attracting 100 delegates from the lending, housing and public policy arena, the CML event is the premier lending conference in Scotland. This year's conference focused on the current strategic lending and housing issues affecting the UK, particularly Scotland.
Mr Coogan referred to the David Miles review on whether the absence of long term fixed interest rate products is a market "failure" which requires Government intervention. He also highlighted the speculation that the Government is attracted to the American model of the mortgage market which is based on 15 or 30 year fixed-rate products with a free exit for consumers:
"To introduce the US system would force standardisation on the market to a degree that could undermine product innovation and consumer choice in the UK. It is not a coincidence that some of the flexible mortgages available in the UK are unknown in the US."
Other speakers at the conference included:
* Susan Rice, Chief Executive, Lloyds TSB Scotland who gave her perspective on the big issues for Scotland's economy and housing markets.
