The Building Societies Association (BSA) has urged against buy-to-let regulation when the FSA sets its final rules for the mortgage market in the coming months.
In the mortgage market review in October, the FSA said it wanted to regulate buy-to-let mortgages, although it recognised this was a decision for the Treasury to make. However, in December, the Treasury said extending regulation to buy-to-let mortgages would fail to reflect investment decisions made by buy-to-let borrowers. The BSA agrees with the Treasury, saying the decision to enter into the buy- to-let market is an investment decision made by the borrower and is very different to the mainstream mortgage market. Paul Broadhead, head of mortgage policy at the BSA, says: "Includin...
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