Brahm Keeps Brown In Touch on Mortgages

More evidence last week of research findings impacting on the thinking of the Blair Government. Leeds-based Brahm Research presented a consumer perspective on mortgage preferences to an audience of specialists at Westminster, as part of the Miles Review, commissioned by Chancellor Gordon Brown.

The session was chaired by John McFall MP, Chairman of the Commons Treasury Select Committee, and centred on how long term, fixed home loans could reduce volatility in the UK housing market. Brahm and public affairs partner Cicero Consulting presented a consumer perspective, kick-starting a debate between the UK's major lending institutions, the Citizen's Advice Bureau and the European Mortgage Finance Agency, a keen advocate of the US mortgage model.

The research reveals the effect of social and cultural differences on the UK, US and European mortgage markets, and identifies the barriers to switching from variable to longer term fixed mortgage products. The Miles Review is charged with investigating why long term fixed loans remain unpopular in the UK.

Brahm Director Robin Horsfield says the issue 'will gather pace in the coming months, as the Chancellor tries to find a way of reducing volatility in the UK housing market, which he believes has a compounding cyclical effect on the economy overall.

'This kind of event also demonstrates the pivotal role research plays in bringing together policy makers and representatives from industry to debate mutually shared issues. Our report and the lending community's reaction to its conclusions will be presented to HM Treasury and will hopefully be taken on board as the Government prepares a response to the findings of the Miles Review'.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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