Will removing the affordability stress test help me?

I have been getting a few questions all with the same theme around the removal of the affordability stress test. Understandably many are still confused as to what it actually means for them when it comes to applying for a mortgage and what the impact or indeed benefits are.

Is buying a home worth it?

A question from a young man in Inverness contemplating one of the biggest decisions he will face. Should he buy a house? Will he be able to afford it with all the rising costs and so on? These are good questions to be asked and always best asked before actually going ahead.

As a mortgage sanctioner do you always follow policy?

I am a mortgage sanctioner and have had the following question from a mortgage advisor that found the site recently. Interesting question and it is one that I am sure many wonders about when it comes to someone that approves mortgages.

The effect of missed payments due to COVID

The end is in sight for COVID restrictions. Well, we hope it is. Many have missed payments on a range of accounts due to being furloughed or losing a job. How will it affect you in the future?

Building insurance for a property lived in by parents

When you own a property that you let your parents live in, even if rent-free, who can take out building insurance cover? Not quite as easy to answer as you may think.

How much debt will a lender accept for a Mortgage?

When applying for a mortgage the affordability assessment every lender will carry out will be affected by the level of other debt you have. How much debt is too much?