Yes - they have much more headroom than they did in the past.
RE: The UK is turning into a nation of mortgage-free homeowners
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The UK is turning into a nation of mortgage-free homeowners
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I think the govt is worried about a property crash though. Specially due to buy-to-let mortgages.
In the last decade, mortgage lenders had to check if the borrower could afford rising rates. They should be able to cope if rates go to 3%.