Did you think Brexit would mean we’d be free of interfering bureaucrats making annoying rules by which we have to abide? Our regulator, the FCA, now says that, because of Brexit, we have to stick with rules that they were agreeing to change with EU regulators because we now have to adopt all EU rules before we can change them’ if we do, when and if we leave the EU. The rule in question means that, if you try to move your mortgage, you have to have a new-style affordability test which you can’t afford to fail because that would theoretically mean that you can’t have the mortgage which you already have. So ‘mortgage prisoners’ will have to wait quite a few years for parole; their lenders have them by the proverbials and interest rates are on the way up.
““Sir Howard Davies should be ashamed” – brokers react to NatWest chair’s property ladder comments”
‘Just when bankers’ reputations have started to recover’ might be something of an exaggeration. The image of fat cats and their traders earning big bonuses while crashing the economy still endures and has been given further life and legs by the NatWest chairman’s ultimate out-of-touch-with-the-real-world comments.
