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In April 2015, Parliament passed legislation granting the Financial Policy Committee powers of Direction over loan to value (LTV) and debt to income (DTI) ratio limits for owner-occupied mortgages. This enables the FPC to direct, if necessary to protect and enhance financial stability in the UK, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to require regulated lenders to place limits on owner-occupied residential mortgage lending by reference to LTV and DTI ratios.
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