Mar
27
Carney to Gain Control Over Borrowing by U.K. Landlords
By-
Treasury consultation on the new tools closed this month
-
BOE stability officials publish statement on risks next week
Bank of England Governor Mark Carney is set to gain the ability to limit borrowing by investors in rental housing within months, increasing his power over the property market.
Testifying in Parliament on Thursday, Chancellor of the Exchequer George Osborne said he’ll probably grant the BOE so-called powers of direction over the buy-to-let market later this year. He said he’s responding to systemic risks in that area identified by the central bank’s Financial Policy Committee…