CML news & views

While current conditions prevail, it is futile to try to update our market forecasts. We would not disagree, however, with the consensus view across the industry that any recovery is unlikely before 2010. So, how should the UK government respond following the recent massive intervention in the US, and publication of the Crosby review this month?

Some customers are understandably confused by recent market developments, and have been asking whether they need to carry on paying their mortgage if the lender goes into administration. The short answer is: yes, they do. And commentators suggesting otherwise, or failing to give a clear answer to the question, are acting irresponsibly.

A year ago, fewer than half of first-time buyers were prepared to make any sacrifices to get on the property ladder. But a new survey shows they are now more prepared to save for a deposit and cut down on their spending in order to become a home-owner.

Target Group has rejoined the CML as an associate. There are now 158 members and 93 associates.