The Financial Policy Committee’s decision to withdraw the affordability stress test from August was the most popular story this week.
It was introduced in 2014 and required lenders to calculate if a borrower could repay a mortgage if the rate was three per cent above the reversion rate.
Pictures from the annual Association of Mortgage Intermediaries dinner, along with news that the government will not intervene with unmortgageable Green Grant spray foam homes, also piqued readers interest.
FPC to withdraw mortgage affordability stress test from August
AMI Dinner 2022: the night in pictures
Government will ‘not intervene’ with unmortgageable Green Grant spray foam homes
Borrowers rush to pay exit fees and lock into new mortgages as interest rates climb
Santander and Platform withdraw products – round-up
Proportunity to launch zero deposit mortgage product
Barclays to acquire Kensington Mortgages
Eleventh-hour mortgage changes can be rationalised but better management needed – Hunt
DIFF: Let’s not try to fix neurodivergent people – Brook Graham
Short-term affordability challenges initially outweigh benefit of stress test removal – Toumadj