Mortgage Regulator removes the need for further affordability stress tests

In this video we talk about the news that the The Financial Policy Committee (FPC) has confirmed that the affordability stress test for mortgages will be withdrawn from 1 August 2022. The stress test was introduced in 2014 and requires lenders to assess a borrower’s future ability to repay a mortgage. This is calculated by seeing if a borrower would be able to repay a mortgage if the rate was three per cent above a lender’s reversion rate. Read the full Mortgage Solutions article below. https://www.mortgagesolutions.co.uk/news/2022/06/20/fpc-to-withdraw-mortgage-affordability-stress-test-from-august/ To contract Payam for advice on Bridging Loan products please click here https://www.nicheadvice.co.uk/contact-us/ THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS. The content of this Video does NOT constitute giving advice it is purely de

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