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Monday, 19 December 2011

Stricter Mortgage Rules Likely

The FSA has proposed new affordability rules to stop irresponsible lending. The proposals will tighten up lender credit checks on mortgage applications, effectively signalling an end to 'self-cert' mortgages, where people were able to get mortgages with few checks on their actual income levels or ability to repay their mortgage.

Interest-only mortgages will still be offered but only if there is a 'credible' plan to repay the loan, with applicants no longer able to assume rising house prices will repay the mortgage balance.

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Operating since 1998 and having bought over 3,500 properties, Quick Move is the largest and most respected quick house sale company in the UK. We offer a service for anyone looking to sell their house fast. We will buy your house for cash, often within 7 days, ensuring a quick, secure and efficient house sale. Our service also offers certainty to house sellers - when we commit to buying your home, we will set a completion date to suit your timescales so you have the comfort of knowing that your sale will go through on the date you require.

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