Money Box Live: The Cost of Owning a House
Money Box
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The Importance of Affordability in the Mortgage Market
Francesca, in her late sixties with a son of 29 years who has Asperger's autism. She was looking to keep the term of my mortgage the same, but just borrow more money down. I'm imagining that the amount that you could borrow is down to affordability. We are in an increasing interest rate environment and lenders will test your income and expenditure against a particular rate. And as you rightly say, rates are higher. So it's an ever decreasing circle, really.
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