City watchdogs are increasingly nervous about short-term lending standards as people locked out of the mortgage market turn to expensive bridging loans to help them invest in property.
In the past year, the number of people taking bridging loans has nearly doubled, with estimates suggesting gross lending breached the £1bn barrier in March this year.
While it's tiny compared to the £138bn mortgage market, the increasingly twitchy Financial Services Authority (FSA) has openly warned that some people are wrongly being given bridging loans they can't afford .......
While it's tiny compared to the £138bn mortgage market, the increasingly twitchy Financial Services Authority (FSA) has openly warned that some people are wrongly being given bridging loans they can't afford .......
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