could be relaxed in plans reportedly being studied by regulators as the government looks for ways to grow the economy.
of the financial crisis when borrowers could take on mortgages worth as much as 110 per cent of the value of a home.
disappearing from the high street because of their disastrous lending.
and testing what would happen to their finances if rates were to rise sharply. Mortgages that allow borrowing above 90 per cent of a property’s value are now rare and expensive.
and has urged regulators to “tear down” red tape.
after shrinking in October and September, figures from the Office for National Statistics released on Thursday said.
The figure was also below the 0.2 per cent rise many economists had expected.
Ms Reeves needs the economy to grow faster in order to be able to pay rising costs for the government’s debts without making cuts or raising taxes.
A larger economy means more tax revenues without raising tax rates or introducing new taxes.
Responding to the data, Ms Reeves said she will “fight every day to deliver” economic growth.
reported.
The meeting was held after the economic data was released.
which often help buyers into their first home.
Other ideas to increase growth include raising the cap on contactless card payments, which is currently set at £100. Above that limit, a pin number must be entered to make a purchase.
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