Two-tier market to spark higher mortgage rates

Borrowers could soon face a two-tier mortgage market thanks to the Financial Regulator’s plan to impose extra requirements on loans for more than 80 per cent of a home’s value, according to senior banking sources.

15th April, 2006

Borrowers could soon face a two-tier mortgage market thanks to the Financial Regulator’s plan to impose extra requirements on loans for more than 80 per cent of a home’s value, according to senior banking sources.

Lenders said last week that the requirement for banks to put up more capital to cover higher-risk mortgages was likely to result in a shift away from these mortgages towards those where the key loan-to-value (LTV) ratio...

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