Opinion Former Article

CML on LIBOR, free banking, and repossessions forecast

Reactions to our arrears and possessions data for the second quarter left some commentators scratching their heads. Why, if repossessions were continuing to fall, were we not revising down our 45,000 forecast for the year as a whole? Did it suggest some sinister worsening based on influences that we knew about that others didn’t?

In this issue we explain that it is uncertainty rather than anything more sinister that is causing us to maintain the status quo for now. We outline why, and issue some observations on the important influence of public policy as well as the general economy.

Also in this issue, we welcome a new CML associate, reflect on LIBOR and on “free” banking and how the current debate reflects our own internal reflection within the mortgage lending industry, and outline our July gross lending estimate.

To see all the stories in full, go to the latest issue of CML News & Views.

Tamsin Askew
Administrator/junior press officer
Council of Mortgage Lenders
020 7438 8921

We have a full and busy events schedule in 2012, keeping the mortgage industry up-to-date with the various important issues currently taking place in the market. View the full listing and book at www.cml.org.uk/events

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