Money Box Live: Mortgage Affordability
Money Box
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How to Make a Payment Concession to Keep Monthly Payments Low
Emily and her husband are facing a massive increase on their mortgage this autumn. They want to keep monthly repayments low while they ride out the storm. Emily is in a position to meet the interest-only criteria, which is quite difficult to get. But if she can, I need to have quite a high earnings threshold and potentially minimum equity and property for the lender to accept it. So reach out and talk to your bank.
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