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fsa ltv regs
robbomc
Posts: 29 Forumite
Just seen the news about the new regulations about limiting the amount you can borrow.
I am interested to hear any comments on this.
I am interested to hear any comments on this.
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Comments
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It should've been done years ago and we wouldn't have had the ridiculous situation where people have mortgages 6 times their salary. It does mean house prices have a lot further to go so millions of people will be in negative equity - it is far easier to support this sort of measure when you're not going to be affected by it.0
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Not seen it so I will keep it short.
To little to late
Stable door and horse that may have bolted
Useless toothless fools that could not regulate a binge drinking session in a brewery!
However we did get our TCF leaflets on time!"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00 -
There are about seven threads on this on the house prices & economy forum. Let's keep it on that forum, otherwise we'll just get all the tedious bull/bear rants over here...0
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Its still relevant to this forum so why not?!?!"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00 -
More relevant here as it affects mortgages. Anyway, it all seems like it was the papers scaremongering again as "The report also said that the idea of regulation in the mortgage market should be debated - but that it was too early to put forward specific action." I thought the mortgage market was regulated?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Income multiples will not be limited to 3x income as this would tip millions of borrowers into neg equity as prices would fall dramatically, thus exposing the Banks still further and the Governments popularity0
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