First-time buyers to get mortgage boost after key Bank of England rule change

It’s estimated 36,000 extra mortgages with higher loan-to-income ratios could be handed out each year - (Getty)

First-time buyers could get wider access to mortgages after the Bank of England (BoE) loosened its rules on lending.

Until now, just under 10 per cent of new mortgages issued are for valuations exceeding 4.5 times the income of a borrower.