Changing Mortgage Policy to better the British Economy.

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Changing Mortgage Policy to better the British Economy.

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Quantitative easing via Banks to Mortgagees
by Rashidi Dennison

1. Increasing terms from max 35/40 years to longer.
2. Setting a more simple guideline on rates available and making all mortgages fixed for the term.
3. Making insurance and repayment protection apart of the mortgage which would be incorporated with the monthly payment.
4. Making mortgages cheaper and based on the affordability to cover the monthly payment. Mortgage rates would be no more than 0.05% or 1.0% more than what the bank purchase their mortgage fund at depending on clients credit file.
5. Making the process for home improvements more clear and less of a risk to home owners when it comes to cow boy builders.
6. Helping existing mortgagees by offering the new mortgage policy.

A full synopsis can be found on - http://www.lovemyidea.com/ViewIdea.aspx?IdeaID=644

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