Changes to the tax or regulatory treatment of certain mortgage-related products in the United Kingdom are among the recommendations of a long-awaited report released March 12 by the U.K. Treasury.The report by University of London Professor David Miles includes a suggestion that the government treat "products that give interest rate protection for mortgage borrowers as insurance for tax purposes" and treat "covered bonds issued by U.K. lenders the same way for regulatory purposes as those issued in countries where specific legislation governing issuance has been necessary." The U.K. Treasury's website address is http://www.hm-treasury.gov.uk.
Processing Content
