Bank of England ‘insures against housing boom’

Plans by the Bank of England to cap riskier mortgage lending have been hailed as an important “insurance policy” for the UK economy.

Under the proposal, lenders would not be allowed to lend any more than 15% of residential mortgages at more than four and a half times a borrower’s income.

Banks and building societies will also now have to check that you could still pay it back if interest rates went up by 3%.

The move will have little initial short-term impact on people’s chances of getting a home loan, but commentators have said the measure could have “bite” in the future.

Find out more here

This is the Acclaimed Mortgage Consultancy logo
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

View our Privacy Policy