Wednesday, September 22, 2010
That was the whole point, you ****
New rules for mortgage lending are "fatally flawed" and will lead to house price falls, a lending body said today... "Interest-only mortgages will disappear from the market in the future." [Michael Coogan] said the unintended consequences of the new mortgage regulations were that it was likely to "stifle innovation and opportunity" and he urged the FSA to urgently reassess its proposals. He said: "We do not want to sleepwalk into a housing finance market which is sustainable, but meets almost nobody's aspirations because it is so risk-averse."