Property News · April 25, 2014

Tougher mortgage rules come into force


Lenders will have to carry out detailed checks on a borrower’s spending and stress-test ability to pay if interest rates go upHomebuyers and remortgagors will face tougher checks before being granted a mortgage under new rules for lenders that come into force on 26 April.The changes, which follow the City regulator’s mortgage market review (MMR), will see would-be borrowers asked to give more detail about their spending when they apply for a home loan. Continue reading…

Source : theguardian.com
Read more…Tougher mortgage rules come into force

You may also like...