Stakeholders in the mortgage industry have given a mixed response to news of the Bank of England's £50 billion package of support for lenders through a new securitised bond system.
Michael Coogan, director general of the Council of Mortgage lenders, welcomed the move but noted that some smaller lenders would not have access to the funds.
He also said the success of the plan "will be affected more by how Libor responds to the announcement" than any other factor.
Mr Coogan also warned: "The improved liquidity is unlikely to reverse the trend to higher mortgage costs we have seen in recent weeks."
The Association of Mortgage Intermediaries also gave the move a cautious welcome, with director Richard Farr suggesting that the Bank of England could have gone further and pledging that the body will produce its own proposals to help the mortgage industry this week.
However, Mr Farr acknowledged, there was no "silver bullet" solution.
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