Mortgage News

Claim banks' rules relaxed

Thursday 26th of February 2015

Mortgage adviser Darren Pratley, formerly of TNP, said the change had been noticeable over the past four or five years. Where banks would previously have been most comfortable with loans about three times the borrowers’ income, they were now looking up to five times.

He said that was probably driven by lower interest rates but those rates could not be relied on to continue.

“They’...

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