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Crosby report delayed

The Crosby review into the UK’s mortgage market is to be delayed, the Treasury has revealed.

The review was due at the end of September, but is now expected to be unveiled on October 13 with revisions due to recent market volatility.

The report, which is being compiled by former HBOS chief executive Sir James Crosby, will outline the endemic problems within the UK mortgage market. Industry heads hope the report will convince the Government to aid the ailing wholesale markets, which are currently disabling the funding of future UK mortgages.

The Treasury says that the report must be reevaluated in the face of changing world markets.

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