In our modern days, everyone needs the larger vehicle. Bad credit doesn’t mean that you can not purchase a car, and not automatically mean you can not get a car loan with conditions that do not break your monthly budget.

1. There has been a mixed reaction from the
mortgage industry to the Financial Services
Authority's (FSA) proposals for the UK
mortgage market. The FSA's three year
Mortgage Market Review has been published
and while many experts welcome the proposals,
others believe they don't go far enough to
ensure that borrowers are protected.

2. The review has been criticised for letting
borrowers continue to take mortgages without
advice and for failing to tackle the problem of
interest only mortgages. Here, we look at the
main reaction to the high value mortgage
review.

3. Under the new plans, borrowers will still be able
to take out a large mortgage without advice.
Anyone earning £300,000 or more will be
eligible for the 'high net worth' exemption while
borrowers will also be able to take out a home
loan without advice if all the relevant products
are presented in a non-interactive format - for
example online.

4. FSA's Mortgage Review
The Association of Mortgage Max Car Loan Intermediaries (AMI), the trade body for
mortgage advisers and brokers, has hit out at the regulator over these plans. Robert
Sinclair, chief executive at AMI, said the new rules and guidance do not go as far as
the trade body was hoping.As many lenders face up to the challenges of advice and
implementing the requirements around affordability, some smaller lenders might look
for intermediary support and with the wider changes to the rules, the AMI anticipates
that more business will be intermediated rather than be done direct in future.
High net worth mortgage borrowers would still benefit from advice, even though they will
not be required to take it. While high value mortgage clients earning over £300,000
will be exempted from receiving advice under the proposals it is still important to
speak to a broker before making a decision. A broker will have access to dozens of
non traditional lenders who have an appetite to lend to high value mortgage clients.