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BoE drops mortgage affordability tests: Industry reaction

The move by the Bank of England to ditch its mortgage market affordability test from August was broadly welcomed by the industry, although few observers expect a floodgate of new lending to come from the measure. The Bank says it will scrap its 2014 affordability test, which specifies a “stress interest rate” for
City Of United Kingdom Vikki Jefferies Chris Skyes Gemma Harle Financial Policy Committee

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BoE move to ditch affordability test is 'utter madness': DeVere CEO

The move by the Bank of England to ditch its mortgage market affordability test in August has been branded as “utter madness” at a time when the UK faces an economic downturn, according to the head of one leading financial adviser. DeVere Group chief executive Nigel Green says: “This move by the Bank of England is
United Kingdom City Of Nigel Green Vikki Jefferies Chris Skyes Gemma Harle

Mortgage industry must work together on Help to Buy completions

The industry has been called on to come together to ensure Help to Buy purchasers meet the extended deadline for the government scheme. The Help to Buy legal completion deadline has been extended by two months to 31 May, following housebuilding delays due to the pandemic. Homes England, which administers Help to Buy,
Craig Hall Perth And Kinross United Kingdom Mark Harris Chris Skyes Mortgage Club

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