The Times - The hidden mortgage hurdles
Borrowers who have recently opened a current account, got a new credit card or been given a deposit for a home by their parents are being hit by hidden blocks on mortgages.
Aaron Strutt of Trinity Financial told The Times: “Risk departments at the banks and building societies are panicking that people won’t be able to make their mortgage repayments. It’s very difficult to know if you might get caught out by one of these rules if you’re applying for a mortgage directly with a lender.
“Even most brokers might not know the information, as it’s not actively advertised, but often buried deep in their acceptance criteria.”
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