The Intermediary Mortgage Lenders Association (IMLA) wants George Osborne to tackle the shortage of mortgage funding in the so-called ’emergency’ Budget.

IMLA wants clarity and direction from the government on how it intends to support the supply of mortgage funding. The trade body is concerned there is a risk that the mortgage funding drought could worsen as lenders repay government support schemes and the banking sector works through an evolving regulatory environment, both domestically and internationally.

IMLA believes that the housing and mortgage market are central features of the economy and requires support to enable it to return to a healthy and sustainable level.

Peter Williams, IMLA executive chairman, said: “The Budget hangs heavily over the housing and mortgage market. Whilst we do not expect the Chancellor to address the myriad of housing issues