Whilst Mortgage rates have never been so low there is currently a lot of uncertainty around the whole of the Mortgage and homebuyers market given the current situation. If you are thinking of buying a home, or you are in the process of doing so, keeping up with changes is vital to the success of the process. Therefore subscribing to a service that tells you Mortgage News is extremely useful. Go to https://www.samconveyancing.co.uk/news so that you can get an update with informed data regularly.
The mortgage market has seen considerable changes since the financial crash of 2008. One of the main issues involved in the crash was that mortgages had been given freely to those that could not afford them or there were loans up to and even over the price of the house. Prior to the changes of the Mortgage Market Review in 2014 you did not need to receive advice on what mortgage to have. Following the review you have to go through an application with a qualified advisor who will look to recommend a mortgage to you that best fits your needs and circumstances.
The criteria for lending can be different from lender to lender. They react to the advice of the Financial Conduct Authority, a body set up to replace the ineffective Financial Service Authority. It is in your best interest to follow the comings and going of the mortgage market so that you are well versed in the ongoing status of it.
