First-time buyers may gain easier access to home financing as the Financial Conduct Authority considers relaxing mortgage rules, aiming for responsible risk-taking among borrowers.
Current mortgage regulations limit the number of loans issued above 4.5 times a borrower’s annual income, impacting many who are fit to afford repayments.
Chancellor Rachel Reeves has pushed for a 'pro-growth agenda,' urging regulators to reconsider their focus on risk to enhance economic growth and accessibility.
Banks proposed easing capital requirements for high loan-to-value mortgages, potentially increasing market opportunities for first-time buyers struggling under strict lending protocols.
Collection
[
|
...
]