This week has seen further rate reductions on the High Street, most notably from Barclays, Skipton & Coventry Building Societies across their entire product ranges. Accord Mortgages and HSBC have also been making favourable changes to their lending criteria with HSBC finally aligning with the market and allowing mortgage terms up to 40 years and Accord widening their acceptable income proposition which will have a direct impact on their affordability models. Really positive news from these lenders this week showing that lenders really do want to lend and support the mortgage market when it is needed most.
Spotlight On: Mortgage Affordability
When referring to ‘mortgage affordability’, many people immediately think of monthly mortgage payments. However, in the mortgage world, this term can also refer to the