September 4

FSA mortgage plans would have left 4m without loans

first_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo KCS-content Tuesday 5 October 2010 7:57 pm Share Tags: NULLcenter_img NEARLY four million homeowners would have been denied a mortgage between 2005 and 2009 under affordability proposals put forward by the Financial Services Authority (FSA), the Council of Mortgage Lenders (CML) said yesterday.It said that amounted to over half of all loans during the period not being granted to potential borrowers, despite the fact most were coping with repayments. The trade body also warned 730,000 first time buyers, equivalent to 95 per cent of all those trying to get onto the property ladder, would have been rejected by lenders as affordability criteria would have been too tight.The CML said that while its analysis was backward looking it suggested the impact of the FSA proposals on the future mortgage market would be significantly higher than the regulator’s own assessment. Moreover, some 80 per cent of impaired credit borrowers would have been denied a mortgage despite only 20 per cent of them experiencing difficulties in meeting repayments in 2009, the CML said.But in a statement the FSA said its proposals were designed to “address the major failures that have occurred in the mortgage market”, and that its evidence showed “16 per cent of mortgage borrowers were already financially overstretched.” More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp FSA mortgage plans would have left 4m without loans Show Comments ▼last_img

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Posted September 4, 2021 by admin in category "aetaxman

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