Sir James Crosby: mortgage finance markets
24 November 2008
On 9th April 2008, the Chancellor announced that Sir James Crosby would provide advice to the Government on options for improving the function of mortgage finance markets, working closely with mortgage industry experts.
Sir James Crosby’s work follows on from the Treasury's Housing Finance Review (published alongside Budget 2008).
His interim analysis was published on 29 July. At that time, the report reviewed the importance of these markets for the UK mortgage market. It also highlighted the extent to which ongoing disruption in these markets had contributed, both in the UK and elsewhere, to higher funding costs for mortgage lenders, and the consequences in terms of higher prices for or reduced access to finance for many borrowers.
Sir James' report published alongside the 2008 Pre-Budget Report on 24 November builds on and updates the interim analysis, and sets out Sir James' recommendations.
The reports are available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Sir James Crosby: biography
Sir James Crosby is a Director of ITV plc and Compass Group plc, and a trustee of Cancer Research (UK). During 30 years in the financial sector, he has worked in the investment, insurance and banking businesses, most recently as Chief Executive of HBOS. He also serves on the Board of the Financial Services Authority as Deputy Chairman.
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