Government called on to review UK mortgage rates and set lending targets.

In this year's budget the Government has been called on to consider UK mortgages rates, bring in mortgage relief for first-time home buyers, set mortgage lending targets, give tax breaks to landlords and offer development project incentives.

It is believed that housing market recovery is fundamental to UK economic recovery and all possible should be done by the Government to make this happen.

The economic benefits of a strong property market demonstrate the importance of implementing practical solutions. Present transaction levels are not sustainable and UK mortgage rates set to increase. Current activity levels will have wider implications for the UK economy, society and the labour market.

The Government has brought in some new measures to help increase housing market activity. However the Government needs a clear strategy to achieve a correct balance of supply and demand which could be done through tax relief and other incentives aimed at reducing housing market volatility.

The Government has been called on to offer first-time home buyers mortgage interest relief for mortgages up to a value of £169,707.

Incentives for landlords are also being requested in an effort to create more rental housing stock. The Government are being asked to treat buy-to-let property investors as businesses so that they take can advantage of UK capital gains tax relief available to small businesses.

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