First-time buyers who sign up to fixed-rate mortgages in a bid to borrow more money to buy a house will no longer be able to do so from next month.
All lenders that fall under the remit of the Financial Regulator must stress-test loans to ensure borrowers can afford mortgage repayments if interest rates increase.
Under new rules being introduced by the regulator next month, lenders will be required to stress-test all mortgages to ensure...
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