Mar
29
BOE Says Lenders Should Tighten Buy-to-Let Lending Standards
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Lending assessment will include minimum rate of 5.5%
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Stability officials continue to monitor market closely
The Bank of England recommended tighter lending criteria for buy-to-let mortgages and said it continues to look for signs that risks are accelerating.
The Prudential Regulation Authority — the U.K.’s main banking supervisor and part of the central bank — published guidelines on Tuesday that aim to guard against a loosening of underwriting standards and bring all lenders into line on affordability of buy-to-let loans. The assessment should include a minimum stressed interest rate of 5.5 percent and will curb growth of the 200 billion-pound ($285 billion) market, the BOE said…
BOE Says Lenders Should Tighten Buy-to-Let Lending Standards
