MMR (Mortgage Market Review)
5 April 2014
At the end of April things will change regards mortgages. The process will involve more checks and lenders may put tougher criteria on to potential mortgage clients, this will apply to new and re-mortgages, so for example if you have a £200,000 mortgage now and you wish to re-mortgage or move your mortgage, under the new rules the lender may not let you!
This means it is more important now than ever to get independent advice when you are looking at your mortgage, some lenders, such as Banks, can only offer one lender so if you do not meet their criteria you could have difficulty in gaining the mortgage you want. As independents we can research the market and give you the mortgage to suit you.