The Financial Services Authority (FSA) has released their mortgage market review discussion paper and they have outlined their proposal for tougher regulations. It is evident that they will be more authoritarian and intrusive in the way they regulate the mortgage industry in future. The FSA want to control the industry as they believe the...
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According to a recently published article by the Financial Services Authority (FSA) on the latest mortgage lending statistic they reported a sharp surge in mortgage arrears. With borrowers continuing to struggle to clear their mortgage arrears, the numbers of arrears have been progressively increasing since the beginning of 2007. By the end of 2008...
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The Financial services Authority (FSA) has fined banks and lenders for the mis-selling of Payment Premium Insurance (PPI) and for failing to treat their customers fairly. Payment Protection Insurance cover (PPI) is sold to borrowers to cover them against the risk that they may not be able to pay their monthly payment on a...
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Gordon Brown could not wait to upstage the Queens’ Speech by releasing his governments’ latest initiative to the MPs in the House of Commons. He announced that mortgage borrowers who suffered from a drop in income would be able to defer their mortgage interest payments for up to two years. This initiative was agreed...
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If you have remortgaged or paid your mortgage off in full in the last few years, then you will also have paid an exit fee to end your mortgage contract with your lender. Agreement to pay an exit fee to your mortgage lender would have been detailed on your mortgage application. This Mortgage Exit...
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