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Tough Rules Will Restrict Home Loans

Borrowers face  tougher controls when applying for home loans under new proposals published by the City's watchdog yesterday.

They could be banned from gaining self-certification mortgages, which do not require homebuyers to prove their income, according to the Financial Services Authority.

Buy-To-Let lending and second charge mortgages, which enable people to take out loans secured on their property, will also face scrutiny.