Money Box Live: Making Sense of Mortgages
Money Box
00:00
Why It's So Important to Buy a Home
Madeline has shown that she can save £800 a month on top of her rent and bills. Why can't lenders factor that in when they're assessing affordability? Most lenders will factor that in. Since 2014, lenders have been required to do an income and expenditure survey. But also they've needed to make sure that that mortgage is affordable. And what they would do if a borrower is really interested or somebody like Madeline is really interested in purchasing and property,. I would always recommend that they go and speak to that mortgage broker to find out what's available.
Transcript
Play full episode
