Rule Change Rocks Foundations of Mortgage Advisers

Evening Standard - London › November 01, 2004

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Summary

NEW controls on home loans have been blasted by mortgage advisers as it emerged Alliance Leicester was forced to suspend online lending ahead of yesterday's launch of the system.

Chris Cummings, director of the Association of Mortgage Intermediaries, said the new regime - under which the Financial Services Authority regulates such lending - was "a sledgehammer to crack a nut".

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Extract

Rule Change Rocks Foundations of Mortgage Advisers

The AMI estimates the cost to lenders and firms gearin...

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