In the City meeting a broker with one of the biggest mortgage companies in the UK. "How's things?" I ask. "Great," he says. "We've got some super new lenders, new products for buy-to-lets, lots more flexible deals on the table and rates that are pretty damned good." "What about this FSA abolition and the threatened 75% cap on loan-to-values? Isn't that going to mess things up?" "Nah, we're really not bothered," he says. "Won't affect anything, there are ways round." "So," I say, "does that mean first-time buyers and Joe Public can at last go down the High Street with much more chance of getting a mortgage and at a decent rate?" "God, no," he splutters. "I'm talking private banks. I'm talking about lending to people who already have money… people who don't need mortgages.

Tracy Kellett runs leading buying agents BDI Homefinders. Follow her on Twitter, here.

Tales from the property front line... is nobody going to close the flipping door? [June 1, 2010]

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