Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Loan charges: IPPR suggests mortgage cap

Homeowners who are currently experiencing loan charges may be interested to hear that the Institute for Public Policy Research (IPPR) has made a number of suggestions for capping mortgages.

The IPPR suggests that mortgages should be capped at 90 per cent of property values and at a maximum of three-and-a-half times household income.

However, Catherine Hearnden, director at independent financial advisers MyMortgageDirect, has said that the proposal to cap a mortgage to three-and-a-half times household income is "ridiculous".

She said: "The [maximum of] three and a half times household income is ridiculous because every household has different expenditure - one household might have five kids and one might not have any.

"Also, they might have other commitments and you don't know what sort of jobs they have."

Ms Hearnden added that the 90 per cent loan to value cap is not "too bad a thing" so long as there are schemes in place to help first-time buyers.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide