28
Oct
CML in Crosby report call
The Council of Mortgage Lenders (CML) has called for the swift
publication of the Crosby Report into mortgage finance in the wake
of the Bank of England's financial stability report.
Director general of the organisation Michael Coogan said the
acknowledgement of a "funding gap" between deposits and lending
mentioned in the report was "an ironic juxtaposition" as this is
something the CML believes could be helped by the introduction of
high quality mortgage-backed securities but has seen its proposals
"rejected".
The Crosby Report was commissioned by the government to provide
policy ideas on ways to help improve the state of the UK mortgage
market, something that could help boost the UK housing
market.
Land registry figures for September showed that house prices fell
overall in England and Wales, although there were rises in places
such as Monmouthshire, Rutland, Stoke-on-Trent and the London
boroughs of Harrow and Southwark.
