Oct
7
07/10/2010
The Council of Mortgage Lenders (CML) is not pleased with the City regulator’s plan to place more restrictions on mortgage lending. The Financial Services Authority (FSA) has the intention of forcing lenders to be far more careful when choosing loan recipients, saying these new rules are necessary to protect vulnerable consumers. According to the CML, this move will exclude many good borrowers, pointing out that these rules would have caused about half of the mortgages granted between 2005 and 2009 to be withheld if in place at that time. They went on to say that the majority of those mortgages, 3.8 million, have ended up being good loans.
This will have a knock on effect on the mortgage market, making it difficult to sell house fast by limiting the number of buyers. If you need to sell home fast, a sell house quick specialist can turn around a quick house sale in days. Sell home fast specialists pay cash, charging no estate agency fees. A sell house quick specialist can also help if you have a broken house chain.
For a sell house fast 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.