The New Local Government Network has criticised Sir James Crosby's emergency report for the Treasury into the mortgage finance market. The think tank said the emerging options and proposals were ‘limited, unimaginative and neglecting obvious solutions'. NLGN director Chris Leslie renewed its call for councils to step in: ‘Urgent steps are needed now to stabilise the housing market and prevent hard-fought town and city regeneration efforts being undermined by a collapse in investment. Councils are best placed to offer mortgage finance to householders where the banks cannot.'
