We Need Help to Ease Credit Crisis; FINANCE: Revival of Mortgage Lending Would Get Properties Moving

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Byline: By Andy Hutson, BUSINESS EDITOR

PLANS to revive mortgage lending have been overwhelmingly welcomed by a Coventry and Warwickshire property expert.

A report commissioned by the Treasury suggesting the government may have to guarantee billions of pounds worth of mortgage bonds to ease the credit crisis.

Harvey Williams, Coventry and Warwickshire regional spokesman for the Royal Institution of Chartered Surveyors (RICS), said any assistance in easing the log-jam would help get the residential property market moving in Coventry and Warwickshire.

Figures out this week revealed the number of mortgages approved for house purchase dived by nearly …