Bailey Says BOE 'Very Conscious' of Surging Mortgage Costs' Impact

The transcript discusses the challenges faced by households due to rising mortgage rates and the resilience of banks in handling these issues. It highlights the current mortgage debt service ratio, which is lower than during past financial crises, and the regulatory measures in place to support high loan to income borrowing. The role of banks in providing customer support and avoiding rapid repossessions is emphasized, showcasing the improved robustness of the banking system compared to previous crises.

What are the two main points highlighted regarding the current mortgage debt service ratio?

What is the significance of the 'tail of the distribution of high loan to income borrowing' mentioned in the text?

How has the regulatory environment changed for banks in terms of supporting customers during financial difficulties?

What measures were taken by the banking system during COVID to support customers?

Why is it believed that there will be fewer repossessions in the current situation compared to the past?