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