No change to mortgage crisis

There has been no change to the mortgage crisis in the UK despite government intervention, according to the Council of Mortgage Lenders. Officials from the CML have said that the problems in the mortgage industry are still ongoing, and the squeeze on credit and mortgages continues even though the government has pumped billions of pounds into the money market and has launched a £50 billion mortgage rescue plan that allows lenders to swap their mortgage assets for government bonds, which is aimed at restoring confidence amongst lenders and increasing liquidity in the mortgage sector. Read more

Tags: mortgage lending, special liquidity scheme, Mortgages, steady decline, change, squeeze, bank insurance, credit