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Industry disappointed with new Crosby delay

The long-awaited Crosby report into funding the mortgage market has been delayed again.

The report by former HBOS chief Sir James Crosby was due this week but has been put back until October 13.

The industry hopes the report will convince the Government that aid is required to revitalise the illiquid wholesale markets.

A Council of Mortgage Lenders spokeswoman says: “We are disappointed. Decisive action is needed to help the mortgage market. However, we understand that the Government needs to redress the report to fit with the changing world markets.”

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