Chancellor pushes ahead with “vital” mortgage tool<br> <br> The government’s mortgage backed securities scheme is a “very welcome step towards restoring mortgage availability,”the HBF has said. “HBF has pressed hard for the implementation of this Crosby recommendation. We’re now just hoping it is enough,”commented John Stewart, HBF’s director of economic affairs. He added that the scheme was likely to be kept under review and would initially be available until October 2009. “The scheme could prove a vital tool to ensuring mortgage availability returns to relatively normal levels,” commented Jack Simmons, director of residential development and investment at Jones Lang LaSalle.<br> <br> Missed opportunity for rented sector<br> <br> The Budget was a “missed opportunity” for the private rented sector, Bill Mackie, partner of Cripps Harries Hall, has said. Mackie commented that Alistair Darling’s housing package did not announce any changes to stamp duty as called for by the British Property Federation, allowing institutional investment in the sector to be financially attractive. He explained: “If I buy a £150,000 home to rent out, I currently don’t pay stamp duty. But if I was to buy more than one, I would need to pay the tax. It should be paid on each property, …