Self-Cert Debtages

The Financial Services Authority wants to ban some self-cert mortgages with new rules to stop lending without proof of income. This was talked about in the eighties when it was found that people couldn’t afford their homes and repossessions went through the roof. It was said at the time that the Thatcher government had been to blame and were slow to react, they also got a pasting from the media. I see a deja vu coming on here, why won’t politicians ever learn from the past or is their always something underhanded going on in the housing and mortgage market?

This entry was posted on 14/07/2010 at 10:50 am and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.