Mortgage rules

June 21, 2022
Bank of England’s scrapping of mortgage affordability rules is madness premium
Plans to ditch mortgage affordability rules by the Bank of England are, I believe, utter madness. The new rules mean lenders will no longer have to check whether homeowners would be able to keep up their mortgage payments at higher interest rates. The move by the central bank is bizarre, and that’s putting it mildly. A stress test is included in the current affordability checks to cover increasing rates, so as to avoid another credit crunch as we saw in Read More

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