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FSA could cap mortgages

Lord Turner, chairman of the Financial Services Authority is rumored to be going to announce a cap on mortgage lending tomorrow.

Newspaper reports today suggest he will restrict how much banks and building societies can lend, knocking it down to just three times a buyers annual salary.

He is also expected to announce a ban on 100% mortgages.

The move has been met with backlash from industry commentators, with Trevor Kent, a former president of the National Association of Estate Agents calling the move “suicidal”.


Job market pessimism dents housing optimism

Over half of people now believe that it is a good time to buy property, but uncertainty surrounding their personal circumstances is denting their confidence, shows the Building Societies Associations Property Tracker survey.

Helpucover sees boom in protection sales

Helpucover has seen a 69% increase in the rate of sales for its income protection and mortgage payment protection insurance products in the first two months of 2009 compared to the second half of 2008.

Younger clients are seeking debt advice

In the past six months we have seen a 100% increase in enquiries for help with debts. These debts range from 2,100 to a whopping 109,000, with the average being 15,000.


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