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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
CML welcomes extension of Bank of England SLS scheme
The CML welcomed the announcement by the Bank of England that the drawdown facility for its Special Liquidity Scheme (SLS) is being extended until the end of January.
Commenting on the announcement, the CML's director general, Michael Coogan said: "In making a clear announcement today, the Bank has shown a welcome flexibility to respond to difficult market conditions. Its action should help promote stability at a time of uncertainty, and we would urge the Bank to continue to show flexibility, given that market conditions will remain challenging next year.
"Immediate prospects for an improvement to the operation of wholesale mortgage funding markets had not been helped by the recent tightening of liquidity in response to more widespread financial market uncertainty. The removal of constraints to mortgage funding remains an important requirement for any longer term recovery in the housing market."
- Income protection can lessen financial hardship for credit crunch casualties
- Two key appointments at HML
- Vendors turn to estate agents
- Eight out of ten will meet TCF deadline
- Equity Advice launches ‘deal buster’
- Variable rates now more attractive
- Unemployment up and vacancies down
- IMA Chairman looks at the impact of the credit crunch
- Lloyds TSB to acquire HBOS
- Bank of England extends SMS scheme
- Bank of England to pump $40bn into market
- FSA statement on Lloyds TSB and HBOS merger
- Lending down 36 per cent in August
- Standard Life cuts rates
- ifs School of Finance on target
- London rental market starts to get Lehman's fallout
- UCB launches new product range and lowers rates
- Darling highlights role of regulation in HBOS deal.