New rules governing the home loans market have attracted widespread criticism.
Introduced by the Financial Conduct Authority earlier this year to ensure both responsible lending by banks and building societies and sensible borrowing by loan applicants, the so-called mortgage market review has drawn a variety of responses from the former and sown confusion among the latter.
Borrowers’ expenditure has been scrutinised like never before, resulting in some not getting the mortgage they applied for. Others, in their 40s, have been told they cannot have loans that end after their expected retirement.
Jeff Prestridge, personal finance editor of The Mail on Sunday, speaks to David Hollingworth, mortgage expert at broker London & Country, to get the lowdown on a home loans market post MMR
Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2853236/MORTGAGE-EXPERT-new-mortgage-rules-really-making-harder-older-borrowers-home-loan-want.html
Introduced by the Financial Conduct Authority earlier this year to ensure both responsible lending by banks and building societies and sensible borrowing by loan applicants, the so-called mortgage market review has drawn a variety of responses from the former and sown confusion among the latter.
Borrowers’ expenditure has been scrutinised like never before, resulting in some not getting the mortgage they applied for. Others, in their 40s, have been told they cannot have loans that end after their expected retirement.
Jeff Prestridge, personal finance editor of The Mail on Sunday, speaks to David Hollingworth, mortgage expert at broker London & Country, to get the lowdown on a home loans market post MMR
Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2853236/MORTGAGE-EXPERT-new-mortgage-rules-really-making-harder-older-borrowers-home-loan-want.html
RSS Feed