(Article courtesy of Jack C) Sir Richard Lambert, outgoing director-general of the CBI, used his leaving speech to say it is the “wrong time” for the housing market. He says: “The MMR is being driven by the Financial Services Authority rather than the government, but this is not the right time in the house building cycle to be making mortgages harder to obtain.” click here Lambert’s comments echo those of housing minister Grant Shapps who claimed the MMR was a “step too far” and MP George Mudie who accused the FSA of perpertrating a “reign of fear” over mortgage regulation.

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