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Fsa Mortgage Reforms

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The FSA are expected to try to introduce wide-ranging changes to the mortgage market including max LTV

What do you think the eventual outcome will be?

Thanks to "Quiet Guy" on the home page, we already have our answer.. Linky

Interest-only borrowers, the self employed and first-time buyers without a chunky deposit or wealthy parents all stand to benefit after the Financial Services Authority climbed down over its plans to push through its controversial Mortgage Market Review reforms.

All the cynics are proved realists once again.

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But following an outcry from the FSA's own Consumer Panel to halt the proposals

erm, what the F*CK is that "consumer panel" doing there!!! AAAARRRRGGGGHHHHH :angry: Why would they put a gaggle of plebs in a position to tell the Financial Services Authority what to do. What the F*UCK is the point of the FSA if plebs can overrule them??? No that's it we're totally run by ******ing morons.

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Yep, a complete whitewash as expected.

Knew the FSA would chicken out, just as the attempt to stem bankers' salaries will be of limited short-term impact.

Was hoping for at least some sort of phased restrictions to be implemented but in the end the forces against responsible lending are too strong.

Looks like we're stuck again with a slow miserable and painful reduction in house prices.

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