In a move that may particularly affect first time buyer mortgages, the Financial Services Authority (FSA) is proposing stricter affordability tests to vet the customer’s ability to repay, and absolute, documented proof of earnings and income Read More
Posts Tagged ‘Mortgage Affordability’
FSA proposals impose limits on first time buyer mortgages
Wednesday, July 14th, 2010Increase in online scams as Christmas approaches
Thursday, November 26th, 2009The Christmas season is ‘rush hour’ for internet shopping, but internet fraudsters are cashing in with some brand new online scams.
This year’s latest innovations include ‘copycat’ websites that seek to imitate the online stores of some of the largest retail chains. There are currently at least 10 bogus ‘Littlewoods’ websites, and several fake websites operating from China that resemble the online shop of UK clothing retailer Abercrombie & Fitch.
Whole of market mortgage advice more essential than ever
Tuesday, November 24th, 2009
The need to take whole of market mortgage advice with access to all mortgage products on the market has been emphasised yet again this month.
Considering a remortgage? Points to ponder
Thursday, November 19th, 2009A remortgage is simply ending an existing mortgage deal, and switching to a different deal, with your current lender or another lender. In the current climate of low interest rates, you may well find that your mortgage lender’s standard variable rate (SVR) is better than the mortgage deal you are currently on. However, with interest [...]
Self-cert mortgage changes – mortgage association warns of ‘mortgage prisoners’
Wednesday, October 28th, 2009The Association of Mortgage Intermediaries (AMI) has claimed that new proposals could reduce borrowers’ access to finance in the mortgage market.  The AMI, which represents advisers giving mortgage advice, was referring to new proposals by the financial regulator (Financial Services Authority FSA) seeking to tighten up lending criteria by more rigorous judgement of the ‘affordability’ [...]
What is your mortgage affordability rating?
Thursday, July 23rd, 2009In approving a mortgage offer to a homebuyer these days, lenders decide the amount of finance on offer based on a number of factors. One of the most crucial is the mortgage lender’s view of how much the applicants can comfortably afford to repay. This assessment in turn reveals the ‘affordability’ of the mortgage repayment that the applicant has asked for. If [...]
Fiddler’s invites: Personal finance scams
Thursday, July 23rd, 2009The development of the internet has brought with it a whole range of new and dubious ways for con-artists to swindle us out of our hard-earned cash. Swindlers are particularly attracted to web contact as it enables them to work globally, hide their identity, and remain, so far at least, very difficult to trace. Here [...]
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