FSA mortgage measures must not be 'reactionary' - BSA

The trade body said reactionary regulation will deliver little or no benefit to consumers so the FSA needs to focus its attention exclusively on areas where there is strong evidence of failure. Paul Broadhead, head of mortgage policy at the BSA, says regulation must be proportionate to the perceived failings in the market. "If the FSA chooses to take a very prescriptive approach, this could mean many existing borrowers, who are already successfully repaying their mortgages, will find it difficult to remortgage in the future or in some instances get a new mortgage at all while many fut...