Thursday, March 20, 2008
More squealing for BOE assistance – nice looking graphs though !
Action is needed from the Bank of England otherwise the mortgage market will face "ongoing problems", says the Council of Mortgage Lenders (CML). CML director general Michael Coogan said the Bank must improve levels of liquidity as strong demand for mortgages could not be met by lenders. His comments came as the CML reported gross mortgage lending was £24bn in February, a 7% fall from January. The drop had been predicted as the housing market has slowed.