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  • Also, how are people going to afford mortgages that are at 1.49% today when they go to 6% at the end of their fixed period?

    As an aside, at least it will stop people moaning that "How comes I can afford £1500/month rent yet a bank won't allow me to take out a £1250/month mortgage"

  • Indeed, although the same people will presumably start moaning that it was irresponsible / mis-selling that banks ever lent more than 5x salaries.

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