BoE liquidity scheme creates 'unfair' market

IMLA’s executive director Peter Williams says the scheme is also inadequate to solve many of the problems plaguing the market since the onset of the credit crunch. The SLS, which was recently extended until January, is currently only available to lenders that take cash deposits from customers, making it out of reach for lenders that are not either a bank or building society. Williams believes this is hampering many lenders, and says: The Special Liquidity Scheme still excludes lenders that do not take deposits, preventing a large proportion of the mortgage market from moving the assets ...