28 Oct

CML in Crosby report call

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.
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