Peter Rollings commenting on todays figures from the CML
Tue 14 Oct 2008
"The level of mortgage lending is dropping off a cliff. If were to rescue this situation at all lenders have a responsibility to open the dam of credit now.
The government hasnt bailed the banks out for their own sake they absolutely must raise LTVs and cut their retail lending rates for the sake of borrowers and our economy as a whole. RICS figures out today showed that home sales are virtually at a standstill theres only one way out of this and thats for lenders to start lending again."