Govt may ‘pare back’ Help to Buy after Carney’s warning
Help to Buy may not have had such an inflationary impact if it was limited to £250k instead of £600k.
Phil
Lloyds caps affordability to 4x income in London to combat risk in raging market
Excellent! More hysterical headlines over armageddon in the housing market! As the issue is that supply is massively outstripped by demand, maybe they are hoping to put off enough would-be buyers in London to reduce the demand and thereby ease off the price rises?
It has all the hallmarks of a “cunning plan!” One imagines too, that the FCA can’t be too happy, having had their revolutionary MMR affordability plans reduced to a max of 4x income by one of the largest UK lenders.
The Cynical Broker
Govt may ‘pare back’ Help to Buy after Carney’s warning
Despite this perhaps reducing the levels of mortgage applications for London brokers, this has to be good for a long and sustained market.
Aldermore reported recently that around half their H2B applicants had income of £40,000 or more and rises in London are still outperforming the rest of the UK.
Arron – Temple Capital
Feedback suggests MMR is workable, but cumbersome – CML
Will the CML be monitoring the decline rates of lenders? I tried to get this information a couple of years ago and I understood this information was not provided by the lenders. Now is a good time to request this I believe.
John Pokora
Mortgage lenders must apply ‘common sense’ after MMR – FCA
So Mortgage lenders must apply ‘common sense’ after MMR according to the FCA! Great news! And then after that they’re going to tell the sun not to shine, the wind not to blow and the tide not to come in!
Lenders will always overreact to FCA “rules & guidelines” before at some unknown point in the future drifting back towards the sensible middle ground they should’ve taken in the first place…
The Cynical Broker
Thank you for your comments this week
