Lenders tighten rules for borrowers “In the past, too many people got a mortgage by simply telling their lender they would have no problem repaying their debt,” says Martin Wheatley, chief executive of the FCA. “Our new rules will hard-wire common sense into mortgage lending.” Lenders have been phasing in the changes for the past 18 months, and many firms are already using the new approach. From the end of the month, customers will have to provide more evidence of both their income and their day-to-day expenditure. Read the full Express article here: dexpr.es/1ra7f54
Posted on: Sat, 26 Apr 2014 13:30:01 +0000
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