Mortgage Market Review deadline approaches
The final deadline for mortgage lenders and brokers to be Mortgage Market Review compliant is upon us. The industry has been busy warning applicants what they can expect when they apply for a mortgage after April 26.
Aaron Strutt, product manager at Trinity Financial, says: "Mortgage lenders will be looking at applications more closely and requesting extra documentation. Many of the questions will be based around affordability. If you are going to apply for a mortgage in the coming months it is worth remembering that lenders will be assessing all of your debts and committed expenditure".
"Some larger banks have made it clear they want to offer more mortgages this year, so they will not want to be harder than necessary. It is certainly worth checking your finances are in order before applying for a mortgage."
April 25, 2014
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