Regulator backs Credit Union mortgage plans

The Financial Regulator has said that it would support a change in the law to allow more credit unions to offer mortgages as long as proper safeguards were put in place.

29th July, 2006

The Financial Regulator has said that it would support a change in the law to allow more credit unions to offer mortgages as long as proper safeguards were put in place.

Only a small number of credit unions can sell mortgages to their members because - under the terms of the Credit Union Act 1997 - a credit union can only provide long-term loans if the loan does not exceed between 10 and 20 per...

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