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Eversheds comment: Bank of England drowns housing market exuberance in red tape

  • United Kingdom

    26-06-2014

    Commenting on measures announced today by the Bank of England to cool the housing market, Bruce Dear, head of London Real Estate at law firm Eversheds, says:

    "The Bank of England is trying to drown the housing market's over-exuberance in red tape. Now nothing kills enthusiasm like a form, but the new affordability and borrower tests will only be as good as the people applying them.

    "Remember the phantom room rents and inflated incomes used to get mortgages in the last boom? In the end, the only things that will really cool the market are putting up rates and building thousands more homes - now."

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