We must restore confidence in the financial industry
Tens of thousands of current borrowers and new buyers will be refused mortgages this year unless the Bank of England provides greater financial help to banks and building societies, the Council of Mortgage Lenders (CML) cautioned yesterday. Steven Crawshaw, chairman of the CML and chief executive of Bradford & Bingley, the biggest buy-to-let lender, said that banks could be forced to halve mortgage lendingthis year unless the Bank took more action to help them. This could leave many borrowers out in the cold when they come to apply for a mortgage. A spokeswoman for the CML said: "If we get to...
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photo: AP / Scott Heppell
