Mortgage and bank account health warnings

Mortgage and bank account health warnings



Consumers could face having their mortgage and bank accounts branded with a health warning system, similar to the traffic lights system for food, in the government’s expected response to the financial crisis to be laid out today. Under the proposals the riskiest products, such as mortgages with ‘teaser rates’ which rise sharply once signed up, will be marked with warnings over the possibility they may damage household finances in the future.