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."

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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.