First-time buyers will find it easier to get on the housing ladder under plans being considered to relax mortgage rules. Financial regulators are understood to be looking at allowing banks and other lenders greater flexibility to allow “responsible risk-taking” from borrowers. They are also examining whether the £100 limit on contactless payments could be scrapped to allow payment companies to set their own limits, making it easier for consumers to make big transactions.

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Financial Times

London

Greater London

England

United Kingdom

UK regulators back looser mortgage rules to help boost growth - Business Fast

The £100 limit on contactless cards could also be scrapped, as regulators respond to the prime minister's plea.

Ad Fontes Media

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BBC News

Government of the United Kingdom

Mortgage rules could be eased to boost lending

Chancellor reportedly open to relaxing lending rules in bid to boost growth

The Independent

Evgeny Lebedev

Reeves urges regulators to ease mortgage rules for first time buyers

A thriving property market and sales offer benefits to the wider economy because of associated spending on furniture and home improvements.

Daily Express

Reach plc

Rachel Reeves eyes move to water down mortgage rules

A MORTGAGE rules shake up could help first time buyers get on property ladder more easily. The proposed changes come after financial regulators were told by Chancellor Rachel Reeves that they needed to adapt a “pro-growth” agenda. It is understood that financial regulators are looking at ways to relax mortgage rules Reeves told senior staff at the Competition and Markets Authority and Environment Agency this week that they needed to change their…

The Sun

Murdoch family

Mortgage rules shake up could help first time buyers get on property ladder

The plans outlined by the regulator could help homebuyers to secure a property.

Evening Standard

Alfred Harmsworth (barrister)

Geraldine Mary Harmsworth

Patricia Harmsworth, Viscountess Rothermere

Carron Greig

Mortgage and contactless rules could be shaken up under FCA plans

The Financial Conduct Authority issued a letter to the Government on steps it is taking, and could take, to support economic growth

Chronicle Live

Newcastle upon Tyne

Tyne and Wear

FCA could make cuts to mortgage rules and increase contactless payment limit

First-time buyers will find it easier to get on the housing ladder under plans being considered to relax mortgage rules, it has been reported.

Birmingham Mail

Birmingham

West Midlands

New mortgage rules in England to help first-time buyers 'get on ladder'

The Financial Conduct Authority (FCA) will look to ease the burden of complying with its stringent consumer duty rules as part of a push to cut red tape in the City and unlock growth. In a letter to the Chancellor Rachel Reeves this week, FCA boss Nikhil Rathi said the regulator would drop a requirement for companies to have a “consumer duty board champion” and potentially hold off creating new consumer protections which may already be covered u…

City AM

FCA looks to ease consumer duty burden as Reeves pushes regulators for growth

Stay informed with free updates Simply sign up to the UK banks myFT Digest — delivered directly to your inbox. UK financial regulators have proposed allowing banks to lend more mortgages to first-time buyers with smaller deposits and lower incomes as they respond to government calls for more risk-taking to boost the economy. The proposals […]

Nikkei Inc.

Strict mortgage rules put in place after the 2008 financial crash may be about to be relaxed to allow people to borrow more money.The Chancellor is continuing a drive to increase growth, and part of the measures being discussed, according to reports, centre around relaxing the rules governing mortgage lending. This could grant greater flexibility for lenders to allow “responsible risk-taking” from borrowers. It comes in response to a request mad…

Mortgage rules could be eased in quest for growth

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