Thousands of potential home buyers may find it easier to get on to the property ladder after a key mortgage affordability test was scrapped by the Bank of England.
The central bank has said the change – taking effect from 1 August – should not be viewed as “a relaxation of the rules”.
However, some commentators said that while the move would be welcomed by many, there was a risk that some people would take out mortgages they were unable to afford.
The Bank has removed a requirement that forced borrowers to be able to afford a three-percentage-point rise in interest rates before they could be approved for a home loan.
This “stress test” was introduced in 2014, after the 2007-08 financial crisis, and was part of a package of measures designed to prevent a repeat of the reckless lending that some say was rife in the run-up to the crash.
Diese Geschichte stammt aus der August 02, 2022-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 02, 2022-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
'Writing a book is tough but being a pro is harder'
The big interview Conor Niland The author of the William Hill Sports Book of the Year holds no bitterness towards tennis, which gave him a dream to chase yet meagre rewards
Carabao Cup to trial VAR explanations in stadiums
In-stadium VAR announcements are to be trialled for the first time in English football in the Carabao Cup semi-finals next week.
Hutchinson haunts his former club as Ipswich rewrite the title script
Ipswich's wait is over. Portman Road would not be denied its first Premier League win since April 2002.
Newcastle close on top four and expose Amorim's daunting task
Manchester United are dipping towards the drop zone under Ruben Amorim, a head coach who took over on 11 November and forgot to pack the \"bounce\" often gifted to an employer after sacking the last guy.
Lamptey Saves Seagulls After Rogers Runs Show for Villa
Tariq Lamptey spent most of his night worried about how his direct opponent Morgan Rogers was the most-likely matchwinner, but it was the right-back who settled the result with a fine equaliser as Brighton secured a draw at Aston Villa.
Undermined Fonseca leaves Milan with 'calm conscience'
The Portuguese struggled from the start at San Siro but his sacking still reflects badly on the club's board
Boulter dreading 'terrible' prospect of playing fiance
Katie Boulter, the British No 1, admitted she was hoping to avoid having to play her Australian fiance, Alex de Minaur, after leading Great Britain to victory over Argentina in the United Cup.
Djokovic and Kyrgios raise curtain on season of change
The Serb has struck unlikely alliances in push for renewed success, but others hope to master a shifting landscape
Injury threatens to rule Lake out of Six Nations
Dewi Lake is in danger of missing the Six Nations after having biceps surgery.
Boland blows down India to give Australia series lead
Ultimately, Australia's gamble paid off.
