New BTL Mortgage Underwriting Standards

cells

mwpt wrote: »

then they don't deserve to buy a house.

your moral view should not play a part in it

If banks internal risk assessments say lending to person A is ok and person A wants to borrow and buy then why should you or the regulator stand in their way?

The argument that the regulator knows best is not a good argument. Also regulators only tend to have one goal in mind regulating that industry. They dont take into account the wider implications outside of that industry.

So yes regulate banks to be safer lenders but not at the expense of some 10% of households who could own instead having to spend more money and have a worse situation thanks to the regulations.


Weve already seen some back tracking. The regulations put in place made it impossible for older borrowers to get a mortgage. There has been some u-turning on that and now they want older folks to be allowed mortgages to 70-75. Clearly they are not always right!