Feb
25
25/02/2010
The Financial Services Authority (FSA) Mortgage Market Review September 2009 included a proposal calling for the ban of self-certified mortgages, asserting that all borrowers should be required to demonstrate their ability to afford repayment of their home loans. To be in line with this, brokerages and their staff members will need to introduce and adhere to tighter regulations. Because dozens of brokers were found guilty of fraudulent behaviour pertaining to submitting bogus applications to mortgage lenders over the past year, firms that arrange mortgage sales may need to prove that their company is “fit and proper” moving forward by extending the Approved Persons regime. These changes should result in a reduction in mortgage fraud and unsuitable advice, as well as enhanced consumer protections.
If you are struggling with your monthly bills and want to clear your debts, consider the services of a sell and rent back company. A sell to rent back company will purchase your home and allow you to stay on with a sell rent back option. One such sell to rent back company is Property Rescue, which provides sell rent back opportunities and can exchange within 48 hours. With a sell to rent back company, you also avoid paying estate agency and valuation fees.
For a sell and rent back valuation, call Property Rescue on 0800 1313 999 or email them sales@propertyrescue.co.uk. You will obtain a quick house sale response in hours.