Mortgage Regulation 2

The FSA has just published yet more mortgage regulation proposals. These demonstrate yet again just how out of touch with reality our government and its quangos truly are.

The time to restrict the flow of credit is when property prices are high and banks are lending too much. So now that prices have hit the floor (/perhaps just starting to recover) and the banks are not lending enough it is exactly the wrong time to introduce further restrictive measures.

So what does the FSA do? It suggests measures to further restrict that vital flow of credit still further. I am quite convinced these people are mad! I don't think I am alone!

One might also ask what it is our big brother regulator is actually trying to accomplish with this move. It seems to be an attempt to protect borrowers from overreaching themselves. Does this now mean we are living in a communist country?

Being free means being free to make our own mistakes - not having some faceless bureaucrat telling us what we can and cannot do.

Role on the next election...

Mortgage regulation

Mortgage Regulation 3