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UK banks no longer need to test mortgage borrowers against interest-rate hike

By Fiona Maxwell ( June 20, 2022, 10:48 GMT | Insight) -- UK mortgage lenders no longer need to stress-test borrowers against a hike in interest rates, the Bank of England's Financial Policy Committee said today. The FPC confirmed its plans to drop the affordability test recommendation after a consultation in February, which received general support from respondents. UK lenders no longer have to follow an “affordability test” reviewing whether mortgage borrowers could survive an interest-rate hike from August, the Bank of England confirmed today....

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