Over the past year or so it has become clear that lenders have stretched their lending policies as far as possible, with some overstepping the mark. While the products are available, brokers will offer them, but there needs to be a time of reflection, so that lenders truly define their lending strategy.
It is no good going after the quick buck and any lenders who refuse to change will, hopefully, feel the wrath of the FSA, which itself has to ask questions about its role in the market.
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