The Sun - HOUSE THAT Boost for first-time buyers as new rules come in to make it easier to get a bigger mortgage
FIRST-TIME buyers could find it easier to get a bigger mortgage under new lending rules coming in this week.
Mortgage lenders are to be given flexibility to lend more to borrowers, thanks to changes approved by financial watchdogs.
Aaron Strutt, of broker Trinity Financial, told The Sun there is "no doubt" that the new rules will "take some pressure off smaller lenders".
"These income stretch mortgages often make the difference between someone buying a house or a flat, or a property in a nicer area. It tends to be younger people borrowing over five times their salary to get on the property ladder," he added.
"At the moment, borrowers really need to do their homework to get the most generous loan sizes at the most competitively priced rates."
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