ISLANDERS hoping to get on the housing ladder with 100 per cent mortgages could soon be permanently disappointed.
Island mortgage lenders may become more tightly regulated, with 100 and 110 per cent mortgages outlawed.
Economic Development Minister Philip Ozouf said that he favoured introducing new regulations in the wake of the credit crunch.
Current global economic problems, he said, had been sparked, at least in part, by banks lending too much cash to home buyers who did not have the means to repay it. At present, mortgage lenders in Jersey are unregulated.
Any new regulations would bring the Island into line with the UK, where lenders are subject to tighter controls.
Senator Ozouf told the States this week that, for example, lenders could be required to advertise interest rates in a more uniform and clear way. And the rules governing the selling of endowment mortgages could be tightened.
