New mortgage rules could slow real estate recovery and make it harder for property owners to re-mort

Discussion in 'UK Property' started by Nicholas Wallwork, Oct 20, 2009.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]Irresponsible lending practices that saw property owners obtaining*mortgages without proof of income would be outlawed and spending habits*rigorously vetted by lenders in future if new proposals get the go ahead.

    New rules outlined by the Financial Services Authority, the UK's*financial regulator, would see self certified mortgages banned in a bid to*make the whole mortgage market more rigorous.



    [​IMG] Click Here to Read The Full Story and Add your Own Comments to New mortgage rules could slow real estate recovery and make it harder for property owners to re-mortgage, it is claimed
     
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