The Financial Policy Committee’s consultation, announced in its Financial Stability report, was welcomed by trade bodies which said the withdrawal of the test would remove a barrier to homeownership.

Meanwhile, the Bank’s decision to up the base rate from 0.10 per cent to 0.25 per cent was met with a mixture of surprise and resignation that it was a necessary step to take to control inflation. Banks were swift to act by re-pricing tracker mortgages and making plans to increase standard variable rates.

Here’s a round up of this week’s most read stories on Mortgage Solutions.

 

Sponsored

Aldermore Insights with Jon Cooper: Edition 5 – Feeling enthusiastic about next year’s run-of-the-mill market

Sponsored by Aldermore

Bank of England to consider withdrawing affordability test

 

RICS refuses to ditch EWS1 guidance

 

Complex incomes: ‘A lot of first-time buyers are working two jobs’ – TML

 

Base rate rises to 0.25 per cent

 

Trade bodies welcome BoE’s affordability test consultation

 

Brokers see spike in divorce-related enquiries

 

Mortgage brokers among 16 firms to go into default

 

Affordability changes will give lenders freedom but market will practice sensibly – Marketwatch

 

Lenders are making margins on borrowers who have to go green – Skipton BS

 

Lenders tweak tracker products and up SVRs after base rate rise