The modern method of lending

Boulger, Ray
November 2006
Mortgage Strategy;11/27/2006, p65
Trade Publication
The author reflects on the issue about the modern method of lending in Great Britain. He said the four lenders topping the Council of Mortgage Lenders' gross lending table in 2005 will offer at least 5 x joint income to applicants meeting strict criteria. He argued that most of the lenders now use affordability to assess how much they will lend. The difference with Abbey and Northern Rock is that they translate the typical results of an affordability calculation into an income multiple matrix.


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