The Council of Mortgage Lenders (CML) has come up with a new policy which they hope will rescue the housing market. They are currently pressurising the government to adopt the policy. The CML have stated that the biggest problem of the stagnant housing market is the lack of mortgages which are being made available to the general public and in particular first time buyers. The innovative plan drawn up by CML differs from previous policies suggested as it will be the investors themselves who will retain the credit risk and the government will not be required to guarantee the scheme. The CML hoped that the government would agree to this new proposal as they were confident that if adopted it would allow the housing market to recover quickly.