How will the new rules on UK mortgages impact buyers

Consumers and banks alike both want the same result – mortgage approval.

With the number of first time buyers and current homeowners looking to move the introduction of new the Mortgage Market Review (MMR) regulations have impacted the number of mortgage approvals. Strict regulations have been placed to emphasise mortgage affordability.   Borrowers are now required to provide evidence on their income and spending habits and undertake stress tests to gauge their ability to pay under different interest rates and income scenarios.

This tighter affordability criteria may halt the mortgage lending activity in the UK and take an effect on buyer confidence and could possibly increase delayed and rejected applications.

Several elements are hovering over the mortgage market such as soaring housing prices however, on a positive note the governments Help to Buy Scheme is expected to provide momentum and support new home building.

Timetric provides the tools and research you need to learn, compete, minimise risks and identify opportunities in the market.

If you would like more information on this subject please visit our website or contact us at marketing@timetric.com

Timetric in association with the Industry Report Store

Industry Report Store is one of the world’s most comprehensive libraries of market intelligence, with the perfect report for every business need at every budget. Business information is paramount for companies seeking to stay ahead amid challenging economic conditions and intense competition. Contact us today to take advantage of our premium intelligence insights and keep up with your industry competitors.

Gurveer Vasir
Marketing ExecutiveT: +44 (0) 203 220 0806
E: gurveer.vasir@uk.timetric.com
W: www.timetric.com