{"id":128419,"date":"2022-08-01T22:26:20","date_gmt":"2022-08-01T15:26:20","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/interest-rates-are-rising-so-why-are-mortgage-rules-being-scrapped\/"},"modified":"2022-08-01T22:53:34","modified_gmt":"2022-08-01T15:53:34","slug":"interest-rates-are-rising-so-why-are-mortgage-rules-being-scrapped","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/interest-rates-are-rising-so-why-are-mortgage-rules-being-scrapped\/","title":{"rendered":"Interest rates are rising \u2013 so why are mortgage rules being scrapped?"},"content":{"rendered":"


\nAnalysis: Bank ruling that borrowers don\u2019t have to show they can afford steep repayment hikes raises questions over how to curb excessive borrowingFrom today, there is one less barrier to obtaining a mortgage. The path to high value property loans has opened to a much wider audience after the Bank of England killed off a regulation demanding borrowers show they can cope with a three-percentage-point rise in interest rates.In a move planned last year and implemented on 1 August, the financial policy committee of the central bank said it was scrapping the rule because forcing borrowers to stay within a limit of 4.5 times earnings when they apply for a loan was enough. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Interest rates are rising \u2013 so why are mortgage rules being scrapped?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysis: Bank ruling that borrowers don\u2019t have to show they can afford steep repayment hikes...<\/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-128419","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-xph","jetpack-related-posts":[{"id":138289,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-to-cost-1m-borrowers-extra-500-a-month-by-2026-bank-warns\/","url_meta":{"origin":128419,"position":0},"title":"Mortgages to cost 1m borrowers extra \u00a3500 a month by 2026, Bank warns","date":"July 12, 2023","format":false,"excerpt":"\r Bank of England says millions of homeowners will be paying up to \u00a3220 more per month by end of yearNearly 1 million UK homeowners will be forced to shell out at least \u00a3500 more a month to cover mortgage payments by the end of 2026, as borrowers suffer the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125245,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-does-uk-interest-rate-rise-mean-for-savers-and-borrowers\/","url_meta":{"origin":128419,"position":1},"title":"What does UK interest rate rise mean for savers and borrowers?","date":"March 17, 2022","format":false,"excerpt":"\r Mortgage holders, house hunters and savers will be affected by the Bank of England raising rate to 0.75%The Bank of England has increased interest rates to 0.75% in an attempt to tackle rising inflation in the UK. That means the base rate is back to its pre-pandemic level. What\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140695,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-uks-interest-rate-freeze-means-for-mortgage-borrowers\/","url_meta":{"origin":128419,"position":2},"title":"What UK\u2019s interest rate freeze means for mortgage borrowers","date":"December 14, 2023","format":false,"excerpt":"\r Home loans could be unlikely to fall by much in short term as Bank of England keeps fighting inflationMortgage borrowers will be able to breathe a sigh of relief after Thursday\u2019s announcement that the Bank of England has decided to hold rates at 5.25% \u2013 but amid the good\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-steps-could-government-take-to-help-mortgage-borrowers\/","url_meta":{"origin":128419,"position":3},"title":"What steps could government take to help mortgage borrowers?","date":"June 16, 2023","format":false,"excerpt":"\r As interest rates rise, cash-strapped households need speedy solutions to meet monthly paymentsAs rising interest rates put a squeeze on millions of mortgage borrowers there have been calls for the government to intervene. But what could it do to help cash-strapped households? Continue reading...\r \r Source : theguardian.com\r Read\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6992,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-rates-continue-to-fall\/","url_meta":{"origin":128419,"position":4},"title":"Mortgage rates continue to fall","date":"March 6, 2016","format":false,"excerpt":"\r Borrowers still benefit from Bank of England cutting base rate to 0.5%Seven years of record low interest rates may have hammered savers, but borrowers are continuing to benefit.Yesterday marked the seventh anniversary of the Bank of England slashing interest rates to their current 0.5% historic low. 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