The Financial Services Authority (FSA) has set out proposals for the major reforms which it believes are required in the UK mortgage market to make it work better for consumers and be sustainable for firms.
The proposals, published in the mortgage market review discussion paper, aim to introduce a “less intrusive and interventionist style of regulation”.
The review’s key features are:
- Imposing affordability tests for all mortgages and making lenders ultimately responsible for assessing a consumer’s ability to repay; Read the original article at Totallymoney More similar stories:
- Banning ‘self-certification’ …
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October 20th, 2009 at 9:45 am
It seems the reform is taking forever. Too many wolves guarding the hen house holding it up.