02 Aug 2022
As you will have seen in the news recently, mortgage borrowing rules have been eased after the Bank of England scrapped an affordability test.
The "stress test" forced lenders to calculate whether potential borrowers would be able to cope if interest rates climbed by up to 3%.
Removing the test may help some potential borrowers get loans, such as the self-employed or freelance workers.
But other rules such as strict loan-to-income limits will not make it easier for most people to get a mortgage.
Read more about it on the below article!
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The Mortgage Shop (Kent) Limited is an appointed representative of PRIMIS Mortgage Network, a trading Name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.
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