Tougher rules on mortgages 'is sensible'

Property expert Kate Faulkner has told Daybreak that the move to toughen up on mortgage lending is a sensible one.

She said: "They don't want to compound the problem by giving more people interest-only mortgages with no facility to pay it off."


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.