Bank of England to get powers to regulate buy-to-let mortgages
The Bank of England have been granted powers by the government to help protect the financial system from future risks. The BoE will be able to limit loan-to-value ratios on buy-to-let mortgages, as well as the minimum amount by which the expected rental income from from a property must exceed mortgage interest payments.
Buy-to-let properties have been a profitable investment over the years, but have recently become subject to less favourable tax rules and regulation.
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