Interest Only – a thing of the past?
Even before the FSA Mortgage Market Review consultation, true interest only mortgages were coming under fire. Lenders are tightening their criteria and making it more difficult for customers to obtain interest only mortgages. Some lenders are now forcing customers with loans over a specific loan to value or even loan size to pay their mortgage […]
FSA Regulation
Regulation of the Mortgage Trading Market The Financial Secretary to the Treasury announced a package of measures last month, intended to enhance consumer protection in the mortgage market. As part of the measures third party administrators and firms that buy mortgage books will now need to be regulated by the Financial Services Authority. It notes […]