Mortgage lenders believe all borrowing should carry a mandatory risk warning regulated by the FSA, according to research by repossession specialists Moore Blatch.
A survey by Moore Blatch also revealed a significant number of repossession cases were due to unsecured borrowing. Research by Moore Blatch suggests 96% of mortgage lenders believe borrowing should carry risk warnings, while 73% want the FSA to produce guidelines on acceptable borrowing. Lenders also revealed that 16% of repossession cases are due to borrowing from sources other than mortgages. Paul Walshe, head of lender services at Moore Blatch, says a rise in unsecured lending, reported in the Bank of England’s latest credit figures, means many homeowners may find making their mortgag...
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