Mortgages

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Mortgages

Bye bye to UK self-cert mortgages

Ray Boulger: some lenders will be more flexible

Borrowers will have to prove their income to get a mortgage under proposed rules, which could further damage the chances of acceptance for the self employed.

City regulator, the Financial Services Authority, said this summer it wants to ban self certification mortgages, where no income verification is required.

These deals were often deemed ‘liar loans’ because borrowers sometimes faked their income.

UK house prices fall as demand falters More chartered surveyors reported a fall rather than a rise in house prices for the first time since July 2009 as demand from purchasers slipped back and the number of properties coming to the market...	Role of professional trustees questioned in recent case A recent trust case (Jiggens & Anor v Low & Anor [2010] EWHC 1566 (Ch)) raises questions about the role of professional trustees and the application of the re Hastings-Bass principle. This...
House prices up 0.2% in August House prices rose 0.2% in August to stand 4.6% higher in the year at an average £167,953, said the Halifax on Wednesday, adding that with July’s rise recent falls have been reversed. "House prices in...	House buyers hold the key House prices fell for the second consecutive month in August, slipping 0.9% to an average £166,507, giving buyers the upper hand after months of tight supply. “As more sellers have returned to the ma...