TMM - News

Relying on banks’ calculators not enough for advisers

Monday 10th of April 2023

Derek Mayne, a former self-employed mortgage adviser and banker and now a compliance consultant and director of Rosewill Consulting, says advisers need to test clients on whether they can afford a mortgage and the repayments.

Mayne says using banks’ UMI calculators is not enough. “Using a UMI calculator just tells an adviser what the client can borrow, it doesn’t take...

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