The Council of Mortgage Lenders has called for an extension to the special liquidity scheme implemented by the Bank of England. The CML urge that ineligible institutions should be included to help kick-start the wholesale funding market and reduce the price of mortgage loans .
The CML submitted as former HBOC chief executive Sir James Crosby conducted a review of wholesale funding. The Council proposed that a similar scheme be implemented to extend the SLS to allow banks and building societies to swap mortgage assets for gilt-edged stock.
The lifting of restrictions on the type of products traded should also be made, the CML said. The Treasury were reported as responding: "Sir James Crosby's work on the secondary mortgage market is already considering a range of ideas such as this, and will present an interim report to the Chancellor during the summer."
The CML plea is an attempt to end the freeze in wholesale funding that has had such a negative influence on the mortgage market this year.
Council urges extension of mortgage liquidity scheme
Mortgage Quote Line
0845 108 0505
Council urges extension of mortgage liquidity scheme
Wed, 16 Jul 2008
Recommended links
Mortgage enquiry formMortgage calculator
Maximum borrowing calculator
Switching your mortgage guide
Mortgage renewal reminder service
Mortgage payment shock increasing
View mortgage rates and offers by lender
Mortgage lenders directory
Find a mortgage broker
Bankruptcy and IVA mortgage guide
Bridging loans information
Understanding stamp duty requirements
Mortgage indemnity insurance information
Costs and fees of getting a mortgage
Fixed rate mortgage guide
Variable rate mortgage guide
Offset mortgage guide
Council of Mortgage Lenders wants first time buyer friendly budget
FTBs to receive assistance from councils
Council of Mortgage Lenders: Fixed-rate mortgages less popular
Mortgage rates complicated, says Council of Mortgage Lenders
Council of Mortgage Lenders reports fixed-rate popularity
Council of Mortgage Lenders: Fewer repossessions than expected in 2007
Council of Mortgage Lenders Scotland set to target affordability
Council of Mortgage Lenders predicts rush before Hips
Councils urged to offer mortgage loans
Mortgage lenders' council reports resilience
Council of Mortgage Lenders Mortgages figure close to record
Council of Mortgage Lenders reports record February
Mortgage borrowing rises again, confirms Council of Mortgage Lenders
Council of Mortgage Lenders reports huge mortgage growth
Building society welcomes Council of Mortgage Lenders figures
Mortgage holders £10bn worse off, says mortgage lenders' council
Council of Mortgage Lenders welcomes government plans
Next month crucial for Hips, says mortgage council
| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
| Lloyds TSB launches new fixed-rate mortgage - Thu, 02 Sep 2010 |
| Skipton launches new mortgage range - Wed, 01 Sep 2010 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage