House prices could be bolstered by new mortgage protections for UK borrowers unveiled by the government.
New proposals published by the Treasury would allow borrowers whose mortgages are sold on to third parties to be protected by the Financial Services Authority (FSA).
Sarah McCarthy-Fry, exchequer secretary, said: "Since the onset of the global financial crisis, the government has worked hard to ensure mortgage borrowers are treated fairly by their banks.
"Our focus has been to do all we can to make sure people can stay in their homes and to limit repossessions as much as possible."
The government has published a consultation document which sets out the proposals to extend the scope of FSA regulation to include second-charge mortgages and buy-to-let mortgages.
Such a move may boost the mortgage market and as such provide more funds for those approaching retirement who utilise equity release.
By Alison Stephenson
