Are you a mortgage misfit?
An interesting article outlining the impact for some from the Mortgage Market Review (MMR) introduced in April 2014. Bee-aware whether this will impact you.
Tougher rules mean a growing number of borrowers are finding it hard to get a mortgage. But there are options for those who no longer fit lenders’ criteria
Are you over 45? Self-employed? Divorced and remortgaging late in life? Got your eye on a great ex-council house? Or like the look of that cheap studio flat? If you are in any of these groups, you are likely to be among the growing number of “mortgage misfits” who struggle to find a lender willing to offer a loan.
Article Published: 14/03/2015
Source: http://www.theguardian.com/money/2015/mar/14/mortgage-misfit-borrowers-lenders-criteria