Bank of England considers removing Affordability Test

Bank of England considers removing Affordability Test

We look at the potential benefits of the removal of the affordability test

  • Mortgage approvals, which surged in 2021 on the back of demand from home-movers, have sustained a high level into 2022, continuing to outpace any period since 2008.
  • Meanwhile, the Bank of England is considering removing the ‘affordability test’ which tests a borrower’s ability to service their mortgage as interest rates rise.
  • However the Loan to Income (LTI) multiple of 4.5 times income will remain and this is proved to be more effective at curbing risk during a housing 'boom'.
  • The removal of the affordability test would make it easier for some first-time buyers to get a mortgage although, for an estimated 83% of renters finding a 5% deposit remains a barrier.
  • Source: Dataloft, Bank of England


Get in touch with us

Are we making the most of the space we live in? In towns like Attleborough and across the UK, millions of homes boast two or more unused bedrooms—a surprising reality that cuts to the heart of the country’s housing debate. With 8.9 million properties sitting on excess space, it’s time to ask: are we using our homes as wisely as we think?

Step into the perfect blend of style and comfort with this stunning four-bedroom detached family home. With a bay-fronted lounge, a separate dining room for entertaining, and a sunlit conservatory, there’s space for every occasion in this super inviting home—designed for effortless family living.

Most homeowners would like to sell their homes for as much money as possible, and the best way to do that is by attracting potential buyers to come for a viewing. Could the key to a successful sale be before a viewer has even stepped inside??

A beautifully redecorated home, perfect for first-time buyers, situated in a central town location. Featuring a modern fitted kitchen and bathroom, a spacious lounge/diner leading to a low-maintenance enclosed rear garden, a garage at the rear, and the convenience of no onward chain.