Crosby Review dubbed 'too little, too late'

Earlier today, Crosby said the Government could consider underwriting existing mortgages to help restore confidence in the market. However, a number of property firms have said Crosby’s recommendations are likely to be unworkable and have come too late to save the ailing property market. Peter Williams, executive director of the Intermediary Mortgage Lenders Association (IMLA), says new mortgage finance is desperately needed to help restore liquidity to the UK market. “A solution which deals with new mortgage lending business is crucial to restore liquidity to the UK market. If there ...