Brokers advice contributes to housing crisis - Darling

Darling thinks long-term loans are avoided because brokers will not make as much money from customers with long-term deals. The chancellor says: "Brokers want you to come back every two years, rather than every 10 or 20. The Financial Services Authority has identified this as a problem." The Government is due to issue proposals to increase the supply of long-term fixed-rate mortgages to tackle the affordable housing crisis, according to the chancellor. He says that lenders are providing short-term fixed-rate deals in order to repeatedly charge high arrangement fees. Darling says: In ter...