FSA to Cap Mortgage Borrowing: 3 x Income
Published / Last Updated on 16/03/2009
FSA to Cap Mortgage Borrowing: 3 x Income
The financial services industry regulator, the Financial Services Authority (FSA) is considering introducing strict rules to prevent mortgage companies from lending too much money.
The FSA may take action following the release of the Turner review into the financial crisis and reduce the maximum amount that people can borrow to 3 x income.
This suggestion has been ill received by the financial services industry.
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