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UK: Millions of home owners face restricted lending

Posted on 05 November 2010

From Telegraph: More than five million home owners will become “mortgage prisoners” or be forced to move to a cheaper area if new mortgage rules are introduced, lenders have warned.
The Council of Mortgage Lenders unveiled new figures yesterday suggesting tough new lending restrictions will lead to 2.2 million existing home owners being refused a new mortgage. These so-called “mortgage prisoners” would be trapped in their homes, unable to remortgage or move……………………………………….Full Article: Source

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