Mortgage Market Review: “Hard-Wired Common Sense?”

Sarah Nield ()

Journal of Consumer Policy, 2015, vol. 38, issue 2, 139-159

Abstract: The financial crisis triggered a major rethink of neo-liberal notions of rational decision-making within mortgage markets. In the UK, the Mortgage Market Review conducted by the Financial Services Authority provided this rethink and has resulted in a shift in responsibility in mortgage sales onto mortgage providers which has been hailed as “hard-wired common sense.” This article argues that the common sense within the sales process is of limited utility unless matched by a coherent fit with responses to the consequence of mortgage default and overall housing policy. Common sense will only be achieved by formulating effective safety nets and housing alternatives which reflect an appropriate balance of responsibility between all stakeholders. Copyright Springer Science+Business Media New York 2015

Keywords: Consumer protection; Mortgage regulation; Repossession; Housing policy (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10603-014-9280-2 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jcopol:v:38:y:2015:i:2:p:139-159

Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10603/PS2

DOI: 10.1007/s10603-014-9280-2

Access Statistics for this article

Journal of Consumer Policy is currently edited by Hans Micklitz, John Thøgersen, Lucia A. Reisch, Alan Mathios and Christian Twigg-Flesner

More articles in Journal of Consumer Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().