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Director general, Paul Smee says the clampdown on high loans will mainly affect the capital: "Limiting the level of a lender's lending to no more than 15% of new mortgages at 4.5 times income or above (and none at all for Help to Buy guaranteed loans) is likely to impact the London market more than elsewhere.
The argument about education being overvalued stems from the belief that paying enormous tuition rates at any cost (including high loans) leads graduates to an unhealthy sense of entitlement -- one that is not justified by the actual opportunities one gets from a high-priced college education.
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It will ration some high loan-to-income mortgages from October.
It could force lenders to restrict high loan-to-value mortgages.
The second phase of the scheme guarantees very high loan-to-value (LTV) mortgages.
He could also intervene to limit mortgages with high loan-to-value ratios.
Shared ownership mortgages tend to be offered at a high loan-to-value.
New mortgage lending at high loan-to-value ratios remained low by historical standards, though the number of mortgage products offering higher loan-to-value ratios had doubled over the previous six months.
You had a lot of high loan-to-value lending going on in markets that have soured significantly".
Ms. Sullivan blamed what she called "predatory mortgage companies" that stick naive homeowners with unconscionably high loan rates.
Brought in last year, Help to Buy subsidises high loan-to-value mortgages on existing as well as new houses.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com