Senior Bank of England official issues warning as
government reports highest April lending since financial crisis. Banks might
have to reduce mortgage lending to stay within regulatory limits, a senior Bank
of England official has warned as official figures released this morning showed
loans at their highest level since the global financial crisis. Sir Jon
Cunliffe the Bank of England’s deputy governor, said steep rises in prices
meant mortgage lenders were pushing against regulations introduced in the wake
of the 2008-09 crash to ensure that 85% of mortgages advanced are less than 4.5
times the borrower’s annual income. Read more on the Housing Today website.
https://www.housingtoday.co.uk/news/banks-may-start-to-hit-mortgage-lending-limits/5111939.article
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