(1) The measures in paragraphs (2) and (3) are prescribed in relation to the FCA and PRA.

(2) Where the Financial Policy Committee considers it proportionate on the basis of a costbenefit analysis, a measure to require relevant regulated persons to ensure that, in relation to relevant buy-to-let mortgage contracts which are entered into after the date of the direction, no more than a specified proportion have a loan-to-value percentage greater than a specified maximum loan-to-value percentage.

(3) Where the Financial Policy Committee considers it proportionate on the basis of a cost- benefit analysis, a measure to require relevant regulated persons to ensure that, in relation to relevant buy-to-let mortgage contracts which are entered into after the date of the direction, no more than a specified proportion have an interest coverage ratio less than a specified minimum interest coverage ratio.

(4) In paragraphs (2) and (3), "specified" means specified by the Financial Policy Committee in a direction given under section 9H of the 1998 Act.