Money Box Live: Mortgage Affordability
Money Box
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The Impact of the Financial Crisis on Mortgages
Moneybox Live Listen at Rebecca emailed us about how mortgage deal coming to an end in a month's time. She's been told her new rate is likely to be more than double her salary. After the financial crash of 2008 weren't the rules tightened to make sure mortgages were stress tested and would be affordable? That's exactly right. So fewer people feeling the impact directly means that the people who do have to feel it harder to try and achieve what the Bank of England wants.
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