Affordability Calculator
Financial Services Authority: Impending
Regulation
In the latter half of 2011 lenders will be
required to determine that borrowers can afford a
mortgage. Traditionally, lenders determined this by
capping their lending to a multiple of earnings;
this will no longer be acceptable. Instead, it looks
increasingly likely that lenders will have to assess
your EXPENDITURE as well as income. In anticipation
of these new rules, we have devleoped the following
calculator which we use to help clients determine
whether or not a mortgage is affordable.
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