Page last updated at 10:14 GMT, Monday, 19 October 2009 11:14 UK

Customers were 'seduced' into borrowing

Rules on mortgages are to be tightened up by the Financial Services Authority.

The city watchdog wants to impose affordability tests on all home loans and make lenders take greater responsibility.

City Minister Lord Myners supports the new rules and said that in the past, customers were 'seduced' into borrowing.


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