Tuesday, April 5, 2011

Uneasy money

Nationwide restricts interest-only lending

Over the past year, high street lenders have been tightening their lending criteria on interest-only mortgages in reaction to the Financial Services Authority’s (FSA) probe into the sector.

Posted by letthemfall @ 12:26 PM (1350 views)
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5 thoughts on “Uneasy money

  • sibley's b'stard child says:

    Interesting trend; it does make one wonder exactly who is behind watering down the MMR. Surely, were it the high street lenders, the recent admission of the FSA would prompt them to do precisely the opposite of the above? Regardless of which, pleasing to see more risk-averse lending.

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  • The banks have found less riskier ways to invest their funny money, it has nothing to do with the FSA.

    The FSA is a complete red herring on all counts. We would be better off without them, at least the real criminals would then be exposed.

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  • What would be the effect on house prices if interest only lending was curtailed? Surely prices will have to adjust to the availability of credit.

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  • i would assume if interest only is 30% cheaper than repayment then house prices could drop 30% ?

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  • 3. mark

    If only economics worked that simply.

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