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Podcast: FTAdviser Podcast
Episode: What effect will the new mortgage affordability rules have?
Description: This week the Bank of England has scrapped a key affordability test for borrowers wanting to take out a mortgage which was introduced following the 2008 financial crisis.Since Monday, lenders no longer have to assess whether borrowers will be able to afford a mortgage if interest rates increased by 3 per cent because the Bank claimed it was no longer necessary and was actively preventing people from getting a mortgage.This week FTAdviser deputy editor Damian Fantato is joined by Jeremy Duncombe, managing director of Accord Mortgages, and Danny Belton, head of lender relationships at Legal...