Wednesday, 18 March 2009

Day of Reckoning for the mortgage market

Today is the day when some bloke called Turner who lunches at the FSA announces new proposals for rules governing banks.

Much discussed is the rumour that a cap on mortgage lending to individuals is to be introduced. A cap of 3 times being applied to income and a maximum 95% LTV.

If this is true I will also post on how the mortgage lenders intend to get around the new rules.

More here later.

1 comment:

Oldrightie said...

This is like trying to cap an active volcano having first dropped a bomb into it. Labour crap.
remember Brown saying he wants a return to 2007 lending? Numpty of the highest order.