27 Jun New mortgage rules 2014: What do they mean for you?
Alarmed by all the talk of the new mortgage rules? Let us help you get to grips with it. What new rules? During the housing boom of 2005-2007 many lenders gave borrowers mortgages that they couldn't afford. The inevitable consequence was an increase in people defaulting on their mortgage payments and, sadly, an increase in repossessions. The Financial Conduct Authority (FCA) brought about some changes in April this year regarding how you...