Property owners looking at arranging a quick property sale may be interested to hear that tighter property market regulations put forward by the Financial Services Authority have been welcomed by the Intermediary Mortgage Lenders Association.
Commenting on the proposals, which aim to make it harder for consumers to borrow more than they can afford to repay, IMLA executive director Peter Williams said they “offer a common sense approach”.
He continued: “The new regime is not due until 2013 and there is the issue of transitional treatments but we have another round of consultation and a longish lead time to implementation to deal with this. We hope the momentum built up and the approach adopted by the FSA is not lost as we move towards the new arrangements for regulation.”
Mr Williams went on to suggest that the proposals might result in fewer arrears and repossession cases in the coming years.
December 20, 2011 at 8:00 am | Uncategorized |
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