By Helen Knapman, Digital Deputy Consumer EditorMORTGAGE borrowers should find it easier to get the cheapest home loan under new rules proposed by the City regulator today.
The regulator also wants it to be easier for firms to present a range of mortgage options to borrowers without giving regulated advice. If you're getting confused by all the deals on the market, it might be worth you speaking to a mortgage broker, which will help find the best mortgage for you. Remember, that you'll have to pass the lender's strict eligibility criteria too, which will include affordability checks, and looking at your credit file.
The FCA hopes that by making the system clearer it also means companies can develop new tools that could help people choose and buy a mortgage.
So basically they are building Loads of new homes no one can afford. Who’d a thunk it