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Debt in Swindon `on the rise` New debt management option "a positive step" Consumers `should get advice over IVAs, bankruptcies and DROs` Women `less likely to file for bankruptcy` Councils `filing for bankruptcy for those who fail to pay tax` Consumers lying about finances Rise in bankruptcies revealed Scottish bankruptcies on the rise, new figures suggest Borrowers `accruing more debt before seeking IVAs` Bankruptcies `high in south-west` Landlord bankruptcy enquiries `on the up` Increase in bankruptcy figures for another CAB Bankruptcy "best option" for some households 90% "choosing to `jump before they were pushed`" R3: Bankruptcies and IVAs to rise over next 12 months Insolvencies rise for automotive companies Fuel price hike sparks bankruptcy fears London bankruptcies have "quadrupled" Government department identifies fall in bankruptcy levels Insolvency figures `hide true extent of debt problems`

CML welcomes `encouraging` credit predictions

27/09/2007

The Bank of England`s latest credit conditions survey has been welcomed by a number of industry experts, including the Council of Mortgage Lenders (CML).

Despite the bank warning of increased credit risks which could lead to bankruptcy, the current turbulence in the financial markets is likely to affect the availability of corporate credit far more than the housing sector.

The results of the survey, which was conducted after the start of the credit crunch but completed just before the Bank extended emergency lending to Northern Rock, will increase speculation that a cut in interest rates could come sooner than previously expected.

Michael Coogan, CML director-general, said: "Against this backdrop, it is encouraging to see that the lenders contributing to the Bank survey largely expect the supply of mortgage lending to hold up."

The CML represents 98 per cent of the UK`s mortgage lenders.

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