Although welcome, the resumption of lending by Northern Rock will not transform the mortgage market outlook overnight. However, it is also a sign that the Government is increasingly willing to intervene directly in the lending markets. At the very least, it seems consistent with our view that, ultimately, the Government may have to take full control of the banking sector.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services