Studio: Mortgage crisis
Tuesday 10 July 2012
Reckless lending has been widely cited as a major factor in the global financial crisis. First in America, and then over here, it was discovered that for years people were being granted large mortgages they would never be able to afford to pay back.
So how do we make sure it never happens again?
The European Parliament is currently discussing new rules to try and tackle the problem. It’s hoped that, if voted through, house buyers would get better information about the mortgage they are taking out.
But Conservative MEP Vicky Ford is worried that in trying to regulate the market, the housing industry could be stifled. She joins us in the studio alongside the German Green, Sven Giegold.