As part of the measures announced by the Bank of England in 2014 to tighten mortgage-lending rules, borrowers have to undergo more stringent screening tests to ascertain their assets and ability to repay loans. This has the effect of eliminating bad debts and slowing down the surge in property prices.
This was a successful move mainly because the rise in property prices back then was greater than the increase in average incomes. The Bank of England restricted mortgages.
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