Model mortgage.
Series: Financial Times ; 3 August 1999, 9(1)Publication details: 1999Subject(s): Summary: Whilst lenders now agree with the principle of a 'model mortgage' drawn up by government, there is disagreement as to the form which such intervention should take. Lenders would like the current voluntary code of practice put on a statutory footing, with the details of product design left to them, whereas government favours a 'Cat-standard' which forces lenders to cut their standard variable rates when the Bank of England reduces the base rate. Graph.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB3530-26 (Browse shelf(Opens below)) | 1 | Available | 102080-1001 |
Whilst lenders now agree with the principle of a 'model mortgage' drawn up by government, there is disagreement as to the form which such intervention should take. Lenders would like the current voluntary code of practice put on a statutory footing, with the details of product design left to them, whereas government favours a 'Cat-standard' which forces lenders to cut their standard variable rates when the Bank of England reduces the base rate. Graph.