‘I’VE PRETTY MUCH GIVEN UP ON THIS LOT’: WHY BANKS MAY NOT HELP REEVES OUT
https://s.yimg.com/ny/api/res/1.2/2Il5EJNYBlu66ZB5a773fA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD03NTE-/https://media.zenfs.com/en/the_telegraph_258/4757b739eaafbf65955b32dbf7ef11e4
✍️ UK Chancellor Rachel Reeves is trying to woo bankers and boost the economy with a series of reforms, including relaxing mortgage rules and reducing red tape, but some experts are skeptical about the impact.
👉 Relaxing mortgage rules to allow more borrowers to take out mortgages of more than 4.5 times their income 👉 Reducing red tape for businesses, including simplifying rules for existing homeowners to remortgage 👉 Introducing a new, permanent government mortgage guarantee scheme to support loans to buyers with a deposit of less than 5% 👉 Allowing banks to hold less capital against home loans, freeing up cash to better compete with high street giants 👉 Ditching some EU-era rules to free mid-sized banks from the requirement to hold capital to cover the cost of their resolution 👉 Reforming ring-fencing rules to separate retail and investment banking activities 👉 Reining in the power of the Financial Ombudsman Service to prevent mis-selling scandals 👉 Promoting share ownership with a national campaign and rewording investment warnings to make them more proportionate 👉 Easing rules for businesses to list on the stock market and reducing paperwork needed to raise fresh money after listing
-- #RachelReeves #SirKeirStarmer #PeterHargreaves #AndyBell #StevenFine #DaveHowell #AndrewGriffith #Leeds #London #City #business
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