{"id":128417,"date":"2022-08-01T19:11:15","date_gmt":"2022-08-01T12:11:15","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-england-scraps-mortgage-affordability-test\/"},"modified":"2022-08-01T19:39:07","modified_gmt":"2022-08-01T12:39:07","slug":"bank-of-england-scraps-mortgage-affordability-test","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-england-scraps-mortgage-affordability-test\/","title":{"rendered":"Bank of England scraps mortgage affordability test"},"content":{"rendered":"


\nTest required potential homebuyers to prove they could afford three-percentage-point rise in interest ratesThousands of potential homebuyers may find it easier to get on to the property ladder after a key mortgage affordability test was scrapped by the Bank of England.The central bank has said the change \u2013 taking effect from 1 August \u2013 should not be viewed as \u201ca relaxation of the rules\u201d. However, some commentators said that while the move would be welcomed by many, there was a risk that some people would take out mortgages they were unable to afford. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Bank of England scraps mortgage affordability test<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Test required potential homebuyers to prove they could afford three-percentage-point rise in interest ratesThousands of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-128417","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-xpf","jetpack-related-posts":[{"id":127357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/removal-of-mortgage-stress-test-will-not-result-in-free-for-all\/","url_meta":{"origin":128417,"position":0},"title":"Removal of mortgage stress test \u2018will not result in free-for-all\u2019","date":"June 25, 2022","format":false,"excerpt":"\r While Bank of England decision may help first-time buyers, experts say there will still be restrictionsFirst-time buyers may get a boost from this week\u2019s announcement that the Bank of England will no longer expect lenders to check if they can afford mortgage payments at higher interest rates \u2013 but\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-lenders-told-they-can-scrap-affordability-rules-for-buyers\/","url_meta":{"origin":128417,"position":1},"title":"UK mortgage lenders told they can scrap affordability rules for buyers","date":"June 20, 2022","format":false,"excerpt":"\r Bank of England feels other measures will play stronger role in guarding against household debtLenders will no longer have to check whether homeowners could afford mortgage payments at higher interest rates after the Bank of England ditched rules originally designed to avoid another 2007-style credit crunch.The rules, introduced in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/as-mortgage-rates-hit-8-home-affordability-is-incredibly-difficult-economist-says\/","url_meta":{"origin":128417,"position":2},"title":"As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says","date":"October 21, 2023","format":false,"excerpt":"\r Mortgage rates hit 8% for the first time in decades. Homebuyers must earn $114,627 to afford a median-priced house in the U.S., found real estate firm Redfin.\r \r Source : cnbc.com\r Read more...As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127147,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-england-rips-up-mortgage-affordability-rules-despite-rate-rises\/","url_meta":{"origin":128417,"position":3},"title":"Bank of England rips up mortgage affordability rules despite rate rises","date":"June 20, 2022","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Bank of England rips up mortgage affordability rules despite rate rises","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82915,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-lenders-taking-increasing-risks-warns-bank-of-england\/","url_meta":{"origin":128417,"position":4},"title":"Mortgage lenders taking increasing risks, warns Bank of England","date":"March 16, 2018","format":false,"excerpt":"\r Threadneedle Street puts banks on notice as it prepares for annual stress test of resilienceThe Bank of England has warned high street banks are taking increasing risks selling mortgages and commercial loans that could threaten the stability of the financial system if left unchecked. Threadneedle Street put banks on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136108,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-was-really-shocked-would-be-uk-homebuyers-describe-their-mortgage-battles\/","url_meta":{"origin":128417,"position":5},"title":"\u2018I was really shocked\u2019: would-be UK homebuyers describe their mortgage battles","date":"April 28, 2023","format":false,"excerpt":"\r Even high earners being hit by harsh bank affordability tests in wake of crisis caused by mini-budgetViolet*, an advertising manager from Oxfordshire in her mid-40s, had confidently enquired about mortgage options to buy a new property last August.\u201cWe had found a property we liked and had a meeting with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/128417"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=128417"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/128417\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=128417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=128417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=128417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}