The Bank of England is expected to relax mortgage rules to make it easier for borrowers to acquire bigger home loans. Allowing buyers to borrow more, earlier, could potentially be a huge boost to younger buyers as well as inflating property prices above the record levels they are already.
Mortgage lenders are preparing to launch an array of new products with fixed rate terms over 30, 40 and even potentially 50 years. Some buyers will also be able to take out home loans for up to 6 times their income.
The mortgage market is more confusing than ever, so be sure to take professional mortgage advice to ensure you chose a product that is right for your individual circumstances.
