Intermediaries set out their housing manifesto

The general election is four months today but industry groups are already telling the government which will be elected in May what it should do.

The Intermediary Mortgage Lenders Association has published a list of pledges it wants from parties for housing and mortgage policies.

IMLA argues that a clear over-arching housing strategy is an essential requirement for the next government to replace a policy focus that has frequently favoured short-term, eye-catching - and also conflicting - measures over the last 30 years.

With owner occupation set to fall from 64 per cent to 59 per cent over the course of the next parliament, it says, it wants five specific objectives to be met by the incoming administration.

1. Establishing a programme for a properly managed withdrawal of government measures supporting the housing market;

2. Implementing a state or privately backed mortgage indemnity guarantee scheme to succeed Help to Buy and support high loan to value borrowing in the long term;

3. Introducing measures to support downsizing by older households and increase liquidity in the housing market, along with a review of lending into retirement;

4. Carrying out a full review of the cumulative impact of regulatory changes for mortgage lending, including new capital adequacy requirements, macro-prudential rules and affordability assessments;

5. Engaging in an open discussion on the role of the sub-prime mortgage market in helping to meet consumer needs.

A one-size-fits-all' solution for housing policy is no longer viable, if it ever was. A root and branch review is essential if conflicting priorities are to be addressed in a coherent manner claims IMLA chief executive Peter Williams.