MMR: right policy, wrong time

No one can argue with the intent of the Mortgage Market Review (MMR) with its overall aim of "ensuring continued access to the mortgage market for the vast majority of customers who can afford it, while addressing the tail of poor mortgage lending seen in the past." However, to me the issues has never been if the policy is right, but rather the timing of the regulation. The content of the MMR can be summarised into two categories: 1) Rules that are needed now to address poor mortgage lending (affordability) 2) New rules which are designed to prevent a future crisis (all advised mar...