Call made for buy-to-let regulation

The buy-to-let sector should be responsibly regulated by the Financial Services Authority in a bid to crack down on reckless lending, the British Property Federation (BPF) has said. Buy-to-let mortgages are treated in the same way as a business loan, whereas traditional mortgages are controlled by the FSA. Regulation would insure against lenders giving money to borrowers without making sufficient checks and would help refinance the housing market, said the BPF. "We need to make sure the property fuelled meltdown doesn't happen again," said Ian Fletcher, director of policy at the BPF. It also said that tenants living in repossessed homes should be given at least of two months to find alternative accommodation.
 
 
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