Mortgage Strategy - A question of standards
Following the announcement of Kensington Mortgages additional budget planning form, brokers discuss a move towards an industry-standard expenditure document. Trinity Financial product and communications manager Aaron Strutt agrees.
He says: "It is always going to be hard to get the industry to come together on something like this - especially when you consider that different lenders will take different approaches to meeting the MMR requirements.
"The bigger institutions will have their own systems in place, while some smaller lenders will take a more personal approach to underwriting so they look for different information."
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February 13, 2014
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