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Higher LTVs not the answer
Steve Cox, operations director of Spicerhaart Financial Services, believes that higher LTVs does not equate to irresponsible lending.
Commenting on Lord Turner’s blueprint for a reform of banking regulation, published on Wednesday, he said: "Lord Turner’s decision to consider the introduction of product regulations further before taking action is welcome news.
“Capping LTVs and loan-to-income ratios may reduce lenders’ risk, but is not the answer to encouraging a healthy mortgage market and reduces the opportunities for first time buyers to get onto the housing ladder. Higher LTVs and income multiples should be available to borrowers if appropriate and need not jeopardize responsible lending.”
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