FROM OTHER NEWS SITES
DAILY TELEGRAPH Madonna stalker loose on the streets of Los Angeles - Fri, 10 Feb 2012 00:01:11 GMT
Madonna stalker loose on the streets of Los Angeles - Fri, 10 Feb 2012 04:46:38 GMT
FINANCIAL TIMES Eurozone dismisses Greek budget deal - Thu, 09 Feb 2012 18:58:47 GMT
Eurozone dismisses Greek budget deal - Fri, 10 Feb 2012 00:07:16 GMT
BBC NEWS BBC News - Business - Fri, 10 Feb 2012 04:58:18 GMT
BBC News - Business - Fri, 10 Feb 2012 01:09:35 GMT
Poll
Current Issues
New Issue
Special supplement
Special supplement
Jobs
Jobs of the Week
Upcoming Events
NACFB: Maximise Your Membership Roadshow, Bristol
Limiting LTVs is ludicrous
Geoff Tresman, chairman of Punter Southall Financial Management, gives his view on recent suggestions to limit lending to three times salary.
"Limiting lending to 3x salary will kill what life remains in the mortgage market,” he said.
"This is a ludicrous idea which will serve only to further crush the mortgage market at a time when it needs stimulus not a straightjacket. The UK mortgage market problems are absolutely due to a typical normal adjustment that was overdue and necessary to rebalance the price/income ratio.
“It did not cause the world economic meltdown but has been exacerbated by it. Lenders should be mandated to apply more professional lending criteria to their practices with more in-depth due diligence but not be limited to generic lending limits. It will kill what life remains in the mortgage market."
- Millions of Brits fear repossession
- Changes to OFT consumer credit licence fees
- Voyant Adviser incorporates property decisions
- FSA fines insurance broker
- Higher LTVs not the answer
- Supermarkets not advisers are greatest threat
- Government must influence bank
- Renters are moving to less popular towns
- Mortgage Brain seminars for mortgage 2000 Encore users
- Appointment to Monetary Policy Committee
- Rock lent at 125 per cent after bail out