A number of mortgage lenders are planning to put a cap on lending to buy property in certain post-cod...
A number of mortgage lenders are planning to put a cap on lending to buy property in certain post-code areas in a bid to stop spiraling house prices The Times reports today. The move is to be discussed by the Council of Mortgage Lenders (CML) at a meeting today, the paper says, after Alliance & Leicester and Natwest decided to put in place the new limits. Most lenders have already moved to increase the size of the average deposit to 10% from 5% on new loans during the course of the past year. The new limits would, however, be more draconian, possibly limiting access to mortgag...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes