Measures to prevent a fresh housing boom could push up rental costs and shut young families out of the housing market for years
Prospective first-time buyers could find themselves trapped in pricey rented accommodation and shut out of the housing market by stricter lending rules, experts warn.
In a bid to curb the excessive lending of the pre-recession housing market boom, the new Mortgage Market Review (MMR) which came has come into force, could spell the end of the interest-only mortgages for individuals and young families trying to get on to the property ladder for the first time.
Read the full article – here:http://www.telegraph.co.uk/finance/personalfinance/houseprices/10790526/First-time-buyers-face-rent-trap-under-new-mortgage-rules.html