MORTGAGES

摘要

The Financial Services Authority (FSA) has recently announced tougher rules on mortgage lending in the UK.The basic idea behind the regulations is to ensure future borrowers are not advanced home loans they cannot afford. As a result, lenders will be expected to put a borrower's ability to repay under greater scrutiny from April 2014. In particular, mortgage applicants will need to satisfy lenders they can repay a mortgage and lenders must check those assurances. Also, interest-only mortgage customers must prove they are relying on more than just rising house prices to repay a home loan.