BoE’s Brazier: credit risks ‘stirring’ beneath calm surface
Riskier forms of mortgage debt are on the rise, executive director says
Credit risks in the UK are showing some signs of “stirring”, despite aggregate indicators largely showing calm conditions, the Bank of England’s Alex Brazier said on April 19.
Overall mortgage debt has grown only “modestly” for the past 18 months, the executive director told an audience at Imperial College Business School. But a decline in borrowing among buy-to-let investors has masked riskier mortgages flowing to owner-occupiers.
Rates have fallen, lenders are willing to take on more risk
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