Underwriting standards for buy-to-let mortgage contracts ,– CP11/16,PRA ,Bank of England warnings on Brexit ,clamp down on buy-to-let mortgages
The central bank said the outlook for financial stability had worsened since its last report in November, saying a rebound in Chinese lending was "concerning" and that June 23's vote on leaving the EU was now the biggest domestic risk. BoE Governor Mark Carney came under fire from some pro-Brexit lawmakers earlier this month for exaggerating the dangers of leaving the EU, though the central bank does not have an official position on whether Britain should remain. The BoE's Financial Policy Committee, which Carney chairs, said on Tuesday that "heightened and prolonged uncertainty ... could lead to a further depreciation of sterling and affect the cost ... of financing for a broad range of UK borrowers." Sterling has fallen to a seven-year low against the dollar since the start of the year and markets price in extra volatility for around the date of the referendum. While much of the BoE's concern about Brexit was familiar, less expected was its...