Proposals herald more job losses in the broker sector
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First, it’s clear that the horse has already bolted. Second, what are the millions of borrowers with fast-track and self-cert mortgages supposed to do now if they still can’t prove their income, as is likely? Are they being treated fairly?
This is another niche market taken away from brokers, so stand by for yet more job losses in the recession’s worst-affected market.
And with even fewer people able to get mortgages I predict that the housing market will stagnate.
We’re heading back towards 4 x income deals while house prices cost 8 x income. This will end in tears. The FSA has become the destroyer of enterprise.
JAMES ROSE
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