Tighter Rules on Mortgage Lending

https://www.moneyadviceservice.org.uk/en/news/new-mortgage-rules-will-make-it-harder-to-prove-you-can-really-afford-your-dream-home?utm_source=d-outb&utm_medium=disp&utm_term=ntwk&utm_content=d-traffic&utm_campaign=d-outbrain

The Housing Market is responsible for the ups and downs of the Economy , time a radical approach was taken.

1. House prices should only rise by a set % above inflation , any major work done to a Property to increase value must have Invoices etc.

2. There was a case the other day where a Lady had made an appointment to view a property and before she got there the price had gone up by £5,000,
Estate Agents are earning a fortune right now and many are unscrupulous. We all know there is a limit on House Building because Britain is a small Country and the flooding recently in Somerset etc shows Houses should not be built on flatlands. The Alternative is to build high rise Apartments , not like the 60's ones, more elaborate , with security entrance , balconies etc . Many Americans rent their Properties and my American Friend cannot understand the British need to own their own homes when there is no Mortgage stability.