Skip to main content
  1. News
  2. Business & Finance
  3. Personal Finance

Mortgage checks in the UK are changing – are you prepared?

See also

Major changes to UK mortgage lending rules are coming into action this April. These new rules mean that any person wanting to apply for a mortgage will have their financial situation and personal details closely examined by lenders to ensure that the applicant can afford to pay back whatever sum they decide to take out.

Research in the past has found that homeowners have failed to calculate the total cost of either buying the home or planning for running costs, resulting in them struggling to cope with looming repayments.

Money Advice Service has put together a mortgage checklist designed to help people be prepared and to gather up any documents or information they may be asked to display or provide to the lender. You can have a look it yourself by looking at the graphic above.

If you’re struggling to work out if a mortgage is affordable to you or not, the Money Advice Service has created a mortgage calculator which you can try for yourself by visiting www.moneyadviceservice.org.uk

Advertisement

News

  • Jar-Jar is more popular than Congress
    A new poll shows Jar-Jar Binks is more popular than Congress
    Video
    Video
  • Missing girl found
    After 9 months of being missing, Abigail Hernandez is back with her family
    US News
  • Tree destroyed by beetles
    A tree meant to honor Beatle George Harrison has been destroyed by beetles
    Top News
  • Mystery flags on bridge
    Mysterious white flags have replaced the American ones on the Brooklyn Bridge
    New York
  • Weird Al album debut
    Weird Al's new album has officially debuted at no. 1
    Music
  • Broncos owner resigns
    Broncos owner Pat Bowlen has resigned due to Alzheimer's
    Sports