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Evening Standard
Evening Standard
Business
Jess Denham

Mortgage affordability tests: what do the new Bank of England proposals mean for house prices and first-time buyers?

Bank of England Bank

The Bank of England has launched an inquiry into requirements for two finanical stability recommedations that were implemented in 2014

(Picture: Dominic Lipinski/PA)

Mortgage lending rules could be simplified under a Bank of England proposal to withdraw its affordability test.

The Bank has launched a consultation about whether its recommendations — introduced in the 2014 Mortgage Market Review to guard against an excessive build-up of household debt — are both still required to prevent a financial crisis similar to the 2008 crash.

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