THERE WILL BE AN INTRODUCTION OF NEW RULES IN 2013 BY THE FINANCIAL SERVICES AUTHORITY (FSA) TO PLACE RESTRICTIONS ON BORROWING MORE THAN ONE CAN AFFORD.
So if I have this right all the Thatcher removal of restrictions on lending seems to have failed. The "nanny state" now seems to be "common sense." Is it not amazing how our post war Labour leadership got it right? Now we just need to revisit J M Keynes.
"New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority" (FSA).
The regulator's revised proposals still intend to bring in "common sense" standards that will stop home buyers borrowing more than they can afford. lenders are being told that they must assess the "affordability of homes better,"
BBC Monday December 19th 2011.
Keith - C
No comments:
Post a Comment