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That seems like an easy stress test? I think UK lenders test 3% + the rate at which your mortgage reverts to at the end of the fixed period (we have relatively
by switch007 8y ago
That seems like an easy stress test? I think UK lenders test 3% + the rate at which your mortgage reverts to at the end of the fixed period (we have relatively short fixed period products: 2-5 years), which would typically total around 7-9%.