The FSA will be annoucing new measures this week which will cap the amount an individual can borrow to buy a home to 3 times their salary. They will also ban the 100% mortgage! The average house price in the UK will have to fall significantly further before homes are within the reach of the average man and woman on the street.Full Story Here
There's nothing wrong with a 100% mortgage.
ReplyDeleteThis move will no dounbt have an impact on future over lending by banks, but at the same time will have a devastating impact on existing house values.
ReplyDeleteCan`t argue with that John.
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