Rating system for mortgages

Folks! I stumbled upon something quite interesting earlier today.

A British Chancellor by the name of Alistair Darling recently announced plans to introduce some kind of a rating system where all mortgages in the United Kingdom will be graded and rated. Under the new proposed plans, mortgages doesn’t matter whether they are home or commercial mortgage products will be given gold standard ratings if they are deemed less risky. It is thought that such plans can help Britons better evaluate mortgage products in the market today.

As a Malaysian, I have to say that such rating system is a splendid idea. Malaysia has a lot of mortgage products too and many Malaysians are in the dark about their benefits and risks. We should have a rating system of our own here to help Malaysians evaluate mortgage products.