The Council of Mortgage Lenders (CML) and the Building Societies Association (BSA) are among the organisations which have criticised new proposals by the Financial Services Authority (FSA).

Private landlords could be directly affected by the FSA's plans to limit building society lending as there may be a reduction in buy-to-let mortgages available on the market for borrowers with small deposits.

This is the view of the BSA, which also worries that its members will be unable to compete with banks if the plans are implemented.

And the CML thinks that separate mortgage lending measures for building societies during a period when a comprehensive review of the overall market is being conducted is "inappropriate".

Spokesperson for the body Bernard Clarke said: "What we want to see is the completion of a mortgage market review. That should shape what would be needed in terms of the future regulation of lenders."

Written by Sarah Field

Related posts:

  1. Mortgage lending by building societies ‘reaches highest point’
  2. Gross mortgage lending ‘totals £16bn’
  3. Mortgage lending ‘back in the dark ages’
  4. Correction in mortgage lending ‘long overdue’
  5. Rate cut ‘must be supported by mortgage measures’

Leave a Reply

You must be logged in to post a comment.