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Another Mortgage Rationing Story

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Its the Mail:


Basically, stress test for 7% IRs.

I've seen a comment in a number of places, here included, that part of Carney's plan is some sort is mortgage rationing.

If this is true then HTB stuff is nothing more than a bit of ineffective sugar.

Only the unencumbered, under-leveraged and solvent need apply.

On a side note, in my circle of friends I've not heard of any taking a new mortgage on.

Hardly suprising as most have mortgages that they cannot afford. Im outside of London by the way.

The only house exchange I know of is someone how exchange a nice but small 1.5 bed house for a dirty old man's probate house which offered an extra bedroom and more space. They jumped through hoops to transfer their existing mortgage - which they can longer afford - hours cut, etc.

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