Rees-Mogg has claimed another huge victory for Brexit as lower mortgage rates are likely.
A “more British style of rulemaking” is being planned by the Bank of England as it prepares to take advantage of its post-Brexit position. New guidelines allowing small lenders to create their own loan terms and conditions for prospective homebuyers are expected to help them.
Mr Rees-Mogg took to Twitter to spread the word, tweeting: “The benefits of Brexit keep rolling along.”
Watchdogs in the United Kingdom will no longer be subject to rigid regulations set by Brussels that leave no opportunity for interpretation or flexibility.
The Bank of England will be able to make changes to its policies without having to depend on bureaucratic legislation at every turn, according to new regulations.
In the end, specialists will be able to devise policies that will help the market function properly, while also avoiding political aims.