Warning on risky loans

Queen Alexandra Hospital in Cosham

Health trust that runs Queen Alexandra Hospital is rated as above national average for the environment it provides for patients

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THE Bank of England has stepped in to cool the housing market with a warning to lenders to prevent a build-up of risky, high-value loan-to-income mortgages.

The bank’s financial policy committee has said loans of 4.5 times a borrower’s income or higher should account for no more than 15 per cent of new mortgages issued by lenders.