The guarantee is valid for seven years and lenders have to pay the government a fee for each mortgage it includes. Tough Checks There will be tough checks to make sure buyers can afford their mortgage payments and the borrowers income will be verified, the U.K. Treasury said in a Sept. 29 statement. The guarantee will be available to lenders until January 2017 and the government probably will cap its liability at 12 billion pounds, according to a March filing by the Treasury. These mortgages may well be affordable now, but interest rates have to go up at some point and peoples circumstances could change, said Rob Wood, chief U.K. economist for Berenberg Bank. It potentially increases the volatility of the market as and when this scheme is taken away and increases the risks people are taking, he said. The market is recovering anyway. It doesnt make any sense to have it recovering any faster than it already is, he said. U.K. lenders are already targeting the weakest housing markets with riskier loans because the London market is dominated by cash buyers. About 35 percent of homes bought in the U.K. this year were paid for entirely with cash, according to data compiled by broker Savills Plc.
Sent! A link has been sent to your friend’s email address. 5 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs NFL to play three 2014 regular season games in London AP 3:36 p.m. EDT October 8, 2013 General view of British flags and NFL banners on Regent Street at Oxford Circus in advance of the NFL International Series game between the Pittsburgh Steelers and the Minnesota Vikings. (Photo: Kirby Lee, USA TODAY Sports) SHARE 39 CONNECT 19 TWEET 5 COMMENTEMAILMORE WASHINGTON (AP) The NFL will play three regular-season games at London’s Wembley Stadium next year, hosted by the Jacksonville Jaguars, Atlanta Falcons and Oakland Raiders. The league announced Tuesday at its fall meetings that it was expanding its international series. It will be the most games the league has played abroad in one year. This season, Minnesota beat Pittsburgh 34-27 in September, and Jacksonville will host San Francisco on Oct. 27 as part of it a four-year commitment to move a home game to Wembley. Dates and opponents for the games will be announced when the schedule is compiled next year. OUCH!: Falcons WR Julio Jones likely out for the year “Our fans in the UK have continued to demonstrate that they love football and want more,” said Commissioner Roger Goodell, who has championed overseas games for years and someday believes the NFL will have a franchise based in London. “Both of this year’s games in London sold out quickly.