George Osborne's cap on borrowings, such as squeeze on loan-to-income ratio, judged a 'retrograde step' by experts
Property experts say mortgage restrictions could kill off the burgeoning housing market recovery that has started to take hold outside London.
George Osborne's surprise decision to cap the amount of money would-be home owners can borrow, as a multiple of their income or as a proportion of the value of their home, comes as lenders confirmed that first-time buyers are stretching themselves financially against a backdrop of double-digit house price growth in some parts of the country.
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