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IMPORTANT: Bing News RSS feed has moved!Others include adding an interest rate stress test, new rules on how borrowers who want to remortgage to consolidate debts are treated, and changing how advice is given by mortgage brokers. Lenders will also be obliged to be fairer to borrowers ... Read moreQ&A: FSA's proposals to reform the UK mortgage marketLess than a year after Ottawa forced the banking sector to cut back on risky mortgage lending, the head of one of Canada’s biggest banks says the federal government should go even further. Ed Clark, the chief executive officer of Toronto-Dominion Bank TD ... Read moreMortgage rules should be stricter: TD chiefNew mortgage rules will help those struggling to upgrade their home, sources have said. The new legislation will mean "mortgage prisoners" - people locked in negative equity and unable to move house - will be able to get better loans. The change in ... Read moreRules 'to help mortgage prisoners'UP to one million more people could be turned down for a mortgage in the future under tough new lending proposals unveiled today. The Financial Services Authority says tighter checks on mortgages are needed to avoid the “poor” lending that led to the ... Read moreOne million borrowers could be turned down for a mortgage in a future boom under tough new rulesThe days of getting any sort of discount on a variable-rate mortgage are over - again. Those mortgages, tied to prime, have become a mainstay of the housing market. And why not? While prime has stood at 3% at most major financial institutions, the discount ... Read moreVariable-rate loan no longer rulesThe Mortgage Market Review found that ... Lord Turner said he hoped the new rules would have “only a marginal effect in current market conditions,” but would provide a “significant constraint” in any future economic upturn. However, the new ... Read moreMortgage curbs mean fewer loans for the over-50sAffordability checks can also be waived when rate switching between products with the same lender, changes of term, change of repayment method or adding or taking away a party to the mortgage. Proposals suggest affordability rules can also be waived if a ... Read moreMMR: Existing borrowers cushioned from affordability testingThousands of credit-worthy people will be frozen out by new mortgage rules designed to stop homebuyers lying about their incomes, it is feared. A wide-ranging shake-up of the mortgage market has been unveiled by the financial services regulator (Picture ... Read moreMortgage shake-up will make it even harder for borrowersThe big banks are increasing the amount of residential mortgages they're writing with loan to value ratios (LVRs) in excess of 80 per cent. After tightening home loan lending ratios in late 2008 as the global financial crisis (GFC) worsened a slump in the ... Read moreFor additional information, please see:
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