HBF statement in reaction to this morning’s announcement by the Bank of England on FLS.

“The economy is in a much stronger position than when the Funding for Lending scheme was introduced and lenders are now much more able to meet the funding requirements of home buyers. In addition the Help to Buy equity loan scheme is now in place and is driving sales and stimulating higher levels of house building.”

CML director general Paul Smee observes:

"Although the changes to the FLS may be a surprise, they are not a shock. Mortgage lenders are well equipped to meet their funding needs, as wholesale funding market conditions have improved and retail deposits are robust."