CML response to Turner report

The Council of Mortgage Lenders believes that Lord Turner's report provides a helpful assessment of the regulatory environment as it stands and as it is expected to change. The CML looks forward to working with the FSA as it develops its proposals further.

Michael Coogan, CML director general, commented:

"We welcome the opportunity to explore the pros and cons of limitations on products in a rational way. And we agree that this needs to be done alongside an assessment of alternative ways of regulating to achieve the same risk-mitigating objectives.

"We see the FSA's September paper on the future of mortgage regulation as a real opportunity to help shape a future regulatory landscape that will serve both lenders and consumers better. We look forward to working constructively and collaboratively with the industry and the FSA towards this objective."