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FSA could regulate buy-to-let mortgages

Lord Turner, chairman of the Financial Services Authority says its Mortgage Market Review paper due in September 2009 will consider whether the FSA should regulate secured loans and buy-to-let.

In his report today Turner says as well as looking at whether the FSA should regulate products and put a cap on LTVs, it will also look at the wider mortgage market.

He says: “The paper will also consider whether more effective regulation of the mortgage market, through either tighter conduct rules or direct product regulation, would require the extension of the FSAs remit to cover second charge mortgages and buy-to-let mortgages.”

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