Building societies across the country are fearing for the new rule which involves new planned regulation. Financial service authority City watchdog plan to limit riskier types of lending by building societies. The BSA (Building Societies Association) says that the proposed plans would disadvantage the industry. The BSA has made a formal submission to the FSA following a consultation period on the proposals. It is believed by the BSA that these changes would lessen the chance to compete in the mortgage market. The BSA has made a formal submission since it was revealed what the FSA’S plans were.
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