Tuesday, July 13, 2010
Self-certification mortgages likely to be banned by FSA
If house prices are set by the buyer prepared to pay the most, then they are likely to fall a long way once people are limited to four times income. Does anyone believe the statistic that nearly half of all mortgages taken out between 2007 and the first quarter of 2010 were advanced without consumers having to verify their income? That's an awful lot of small businessmen.