BoE's Financial Policy Committee notes 40% rise in mortgage approvals
LTV ratios are up but low by historical standards
Mortgage approvals rose by 40% in the year to January, though they remained 20% below their long-run average, the Bank of England's Financial Policy Committee (FPC) noted at a meeting on March 19.
"New mortgage lending at high loan-to-value ratios remained low by historical standards, though the number of mortgage products offering higher loan-to-value ratios had doubled over the previous six months," the FPC said in a statement today.
The committee also released terms of reference for a review
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