Rachel Reeves’s plan for mortgages could cause surge of people losing their homes | Politics | News
Rachel Reeves is preparing to progress with comprehensive mortgage reforms, despite warnings that he can “go wrong” and may lead to an increase in revival. The chancellor is expected to announce in the speech changes in the mansion house, which will facilitate the first time buyers enter the housing stairs and cut bureaucracy.
It will allow tenants with a powerful time payment history to use their records to show how much they can borrow their loans without the need for a potentially deposit. Despite the president of a city observer warning months ago, months ago, months ago, it seems ready to progress with changes that pushing may “go wrong” and cause re -fluctuation.
In January, Nikhil Rathi, General Manager of Financial Behavior Authority (FCA), warned that facilitating the regulation may have a negative impact on the system and guaranteed that everyone will “play completely by the rule of the rule,” and added that more risk will increase the possibility of re -processing.
He said: “When the mortgage regulation came last year, almost every major party said that it continued to remove the repetitions and we did.
“This is not consistent with loosening the standards of lending.”
Mortgage requirement is a series of measures taken by the lenders and the government to provide support to mortgage holders facing increasing interest rates.
Threadneedle Street announced that it would change the rules of buyers for the first time by changing the limit on the amount of money that people can borrow. The Bank believes that otherwise 36,000 people can allow them to enter the housing stairs.
Nationwide, England’s largest building society, will allow additional 10,000 people to borrow the minimum mortgage requirement from £ 30,000 to £ 30,000.
Reeves will also announce a permanent permanent mortgage guarantee plan for both home carriers and buyers.
“The government will launch a new mortgage guarantee plan in July 2025 in July 2025, and the commitment to support the landlords who have smaller deposits throughout the UK, Emek
The authority said that the plan will promote and maintain the availability of 91% to 95% credit-value mortgages by providing a state-supported guarantee to the lenders by providing a state-supported guarantee ”.
Chancellor also realizes that the financial services are at the center of the government’s growth mission in his annual speeches.
It is not clear how much details will be shared in the conversation, but it is expected to include changes in the UK Bank and FCA to provide more flexibility to the sector.
