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Total_Injustice

The Government's Aspiration For Mortgage Lending

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I recently received a reply to my petition on the Government to state their aspiration for mortgage lending, this is their response:

"In 2004 the Government extended the scope of Financial Services Authority (FSA) regulation to include first charge residential mortgages. The FSA’s regime requires firms to lend responsibly, satisfy themselves that borrowers have the ability to repay their mortgage, and ensure that borrowers have full information about the products they are considering purchasing.

On 22 February 2009, the Prime Minister announced that the Government had asked the FSA to consider controls on mortgages of more than 100 per cent of a home’s value. In the Turner Review, published on 18 March, the FSA announced its intention to publish a paper in autumn of this year on mortgage market reform. The Government will take the findings of the FSA’s work into account in its forward work on regulation."

So this isn't an answer, let's face it they sold us out and are taxes will keep the housing market afloat. No HPC from what I can see.

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