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Banking Regulation Archive
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FSA Publishes Common Sense Mortgage Rules
The Mortgage Market Review (MMR) is a major piece of work that the regulator has been conducting over the last couple of years in a bid to lay down the rules for mortgage lending to follow in future. The new rules have been received favourably as the consultation begins to move into the final phase [...] -
Interest only mortgages should stay
In its recent Mortgage Market Review, the Financial Services Authority (FSA) set out a number of proposed rules and checks to ensure responsible mortgage lending and borrowing. The proposed changes target some of the mistakes that were made in the run up to the credit crunch and aim to ensure that in future, banks lend [...] -
Borrowers win the right to sue banks over Shared Appreciation Mortgages
A group of over 300 homeowners has this week won the right to take legal action against Barclays and Bank of Scotland over their Shared Appreciation Mortgages, having been granted a Group Litigation Order by the High Court. Shared Appreciation Mortgages (SAMs) are one of the most notorious financial products of the last decade. Launched [...]
