Putting aside fixed rate product increases, the next biggest piece of news in the mortgage market over the last week was Accord Mortgages adding Joint Borrower Sole Proprietor mortgages to its product range. As mortgage affordability continues to be squeezed, these mortgages offer the ability for customers to factor the income of an immediate family member into the affordability calculations related to their mortgage. Accord becomes the 16th lender to recognise this important market sector.
NHMH Mortgage & Protection Advisers
Lenders are reporting that this year so far has seen a real increase in mortgage fraud cases. From falsified payslips to altered bank statements and fake HMRC tax returns and/or Accountants references. Lenders are having lo be more vigilant as the mortgage market becomes tougher and affordability levels are tightened. Many customers don’t realise that if they apply to a lender for a loan and it gets declined, if they then submit another case to another lender, they can actually see from the fraud systems the applicant has been declined for a mortgage and they will start asking more questions.
