Tuesday, September 07, 2010
Bank plans to cap risky mortgages - Telegraph
Apparently, the Brits have figured this out.
I wonder when we will...
I wonder when we will...
Robert Winnett reports on it on the U.K. Daily Telegraph website:
"Charlie Bean, the Bank’s Deputy Governor, said 'direct constraints' may be needed to restrict access to credit, and that homebuyers could be forced to put down sizeable deposits before being granted a mortgage by their banks or building societies. This would mean that prospective buyers would have to put down between 10 per cent and
25 per cent of a property’s purchase price as a deposit before being able to obtain a loan."
