CML news & views

Falling interest rates should make it easier for borrowers to pay off capital and reduce their levels of debt. But are they doing so? And what are the consequences for lenders faced with a funding shortage?

Some reports have criticised low levels of take-up of mortgage rescue. But there are many more cases in the pipeline. And mortgage rescue is only one of the options for borrowers in difficulty.

Firms offering sale-and-leaseback have only until the end of this month to apply for authorisation from the FSA. That will help protect vulnerable consumers and is being welcomed by lenders.