Wednesday, July 3, 2013
No such tenacity over fishing quotas, the shape of fruit or the colour of peas !
European Union legislators came close to shutting the UKâ€™s buy-to-let market and killing off guarantor mortgages during the mortgage directive negotiations, a key negotiator has revealed. Conservative MEP Vicky Ford, who acted as shadow rapporteur for the committee overseeing the European mortgage directive, said some politicians tried to use the legislation to solve their own domestic problems.She told the Council of Mortgage Lenders: â€œWeâ€™ve managed to pull back a directive that could have had massive unintended consequences for the UK. At one stage, it would have meant lending in buy-to-let markets would have been impossible because lenders would not have been able to take into account rental income when assessing creditworthiness.