Help to Buy  

Sesame urges lenders to up LTVs to bridge gap

PMS and Sesame have also called on lenders to embrace modern methods of construction — such as concrete solutions which reduce construction time and promote sustainable building — in order to help the UK meet its ambitious house building target.

Jane Benjamin, director of mortgages at Sesame and PMS, said: “More lenders embracing MMC is another part of the long-term solution. 

“With the government continuing to fall short of its target of building 300,000 homes a year, MMC could enable new properties to be constructed quickly and efficiently.”

In June the Public Accounts select committee said the government had “wasted a once-in-a-generation opportunity" to alleviate the nation’s housing crisis after it was on track to miss housing targets by a “wide margin”.

Ms Benjamin thought progress was being made to incorporate MMC into mainstream lending but said more innovation was needed to meet the needs of future customers.

Earlier this year, PMS and Sesame launched a broker help desk to support advisers working in the new build sector, offering guidance and education support to keep advisers updated on developments in the market.

imogen.tew@ft.com

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