30 Sep

Crosby report 'to appear later'

Crosby report 'to appear later'

The Crosby report on the UK mortgage market will be delayed by a fortnight as the implications of the recent banking issues in the UK are assessed.

Sources in the Treasury have revealed that this late move will mean the final report is produced in the week beginning October 13th, rather than next week.

However, the sources state, the delay will provide time for an assessment to be made of the ramifications of events such as the takeover of HBOS by Lloyds TSB and the nationalisation of Bradford & Bingley.

When the report is produced, it is expected to announce plans to help increase banking liquidity, therefore enabling lenders to extend the availability of mortgage finance.

At the Conservative Party conference today, Tory leader David Cameron pledged to work with the government on any legislative measures that are required to help the economy and the property market.
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