For sale signs in front of house
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Mortgage rules to become stricter, says FSA

Mortgage lenders must take a stricter approach towards people applying to buy a house from 2013, under proposals from the Financial Services Authority.

The regulator wants banks and building societies to make more thorough checks on the ability of would-be buyers to repay them, even if interest rates rise, to help prevent a resurgence in risky mortgage lending.

Simon Gompertz reports.

  • 19 Dec 2011
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