MMR

MMR

As Home Ownership hits 30 year low, rent guarantee insurance popularity increases

02 August, 20161 Comments
New research reveals major cities across the UK are experiencing the lowest levels of home ownership since the 1980’s, following a peak in the early 2000’s. In 1986 the average first time buyer could purchase a home for just £30,000, which would barely cover a deposit in 2016 – the average first time buyer now has to find at least £150,000 in today’s market. Firmly
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Want a mortgage? Don’t eat steak!

12 May, 20140 Comments
It emerged last night that mortgage applicants are being asked ‘Spanish inquisition’ style questions, including whether they play golf or eat steak. Some interviews have lasted up to 3 hours where applicants have been quizzed over the price of haircuts, their plans for more children and even their hopes of a pay rise. These questions
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Lifestyle quiz to secure a mortgage comes into force today

26 April, 20140 Comments
From today, new rules come into force that mean borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. According the the Financial Conduct Authority (FCA) the Mortgage Market Review (MMR) will ‘put common sense at the heart of the mortgage market and prevent borrowers ending up with a
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Government says benefit claimants more responsible than workers

31 March, 20140 Comments
The majority of the Mortgage Market Review changes will come into effect on 26th April 2014, where new rules will mean that borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. Please read : Mortgage Market Review explained by the FCA. Please read : How will the Mortgage
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Stress testing your buy to let portfolio

08 January, 20140 Comments
Every landlord, whether they own a couple of properties or a couple of hundred, is running a business. Like any business, it’s a numbers game – and the numbers can often be unpredictable. When Mark Carney took over from Mervyn King as the Governor of the Bank of England on 1 July 2013, the economy
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