Tuesday, Mar 17, 2009
Finally a Reporter that makes some sense of course regulation is the ONLY way forward
City Wire: Morning Line: Rationing is a vital fix for the broken mortgage sector
Quote: Any regulatory cap on mortgage lending - perhaps to a maximum of three times income - would be ‘suicidal’, the newspaper declares on its front page this morning, quoting ‘property experts’ in.......
As it turns out pretty quickly, however - though not until you’ve bought the paper and turned to page 2 - these property experts include a former president of the National Association of Estate Agents (originator of the headline ‘suicidal’ line) a gaggle of mortgage brokers, and a spokesman for the Council of Mortgage Lenders.
With the greatest respect, none of these – with the possible exception of the CML – can be seriously considered to be ‘property experts’.
Rather they are salesmen and media-friendly self-publicists, happy to provide a handy sound-bite at short notice.
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