Thursday, 26 June 2014

So massive rises in house prices between now and October, do these people not think? 'Bank of England caps some home loans, toughens mortgage affordability test'

' LONDON (Reuters) - The Bank of England sought to put the brakes on Britain's surging housing market on Thursday by announcing a cap on home loans and tougher checks on whether borrowers can repay their mortgages.

The Bank's Financial Policy Committee said that from October, it would only allow 15 percent of new mortgages to be at multiples higher than 4.5 times a borrowers' income.'

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