More than half of mortgage brokers want the FSA to regulate the buy-to-let (BTL) market.
According to mortgage services firm Exact, 54% of 550 intermediaries polled want official regulator intervention. At present the BTL market is unregulated. Additionally, the poll suggests two in every five brokers say at least 90% of their BTL clients were amateur landlords. A majority (63%) said more than 75% of their BTL clients were amateur investors. Alan Cleary, Exact managing director, says BTL should always have been regulated and the ready availability of mortgage finance and credit up until two years ago opened the door for a lot of amateur investors. "The lack of regulati...
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