Shelter: Mortgage rules will protect families from unsustainable debt

We very much welcome the role this review will play in protecting families from taking on debts that are simply not sustainable.

At Shelter we know only too well the damage that reckless lending can cause and the lives that are ripped apart by the pain of repossession.

The biggest barrier to home ownership in this country is not regulation of the mortgage market, but the sky high cost of housing due to decades of under-investment in building new homes.

– Campbell Robb, chief executive of Shelter

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Tougher rules on mortgages

Tougher mortgage rules to make sure borrowers can only take out deals they can afford have been outlined by the financial services regulator. The shake-up, which comes into force in April 2014, is the result of a long-running review by the FSA.