https://www.bankofengland.co.uk/working-paper/2026/interest-rate-fee-substitution-credit-facilitation-in-segmented-markets
Interest-rate fee substitution: credit facilitation in segmented markets | Bank of England
We use administrative data covering the universe of mortgage originations to individual real estate investors in the United Kingdom to study financing outcomes...
bank of englandinterest ratecredit facilitationfeesubstitution