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Want a mortgage? Don’t eat steak!

12 May, 20140 Comments
It emerged last night that mortgage applicants are being asked ‘Spanish inquisition’ style questions, including whether they play golf or eat steak. Some interviews have lasted up to 3 hours where applicants have been quizzed over the price of haircuts, their plans for more children and even their hopes of a pay rise. These questions
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Lifestyle quiz to secure a mortgage comes into force today

26 April, 20140 Comments
From today, new rules come into force that mean borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. According the the Financial Conduct Authority (FCA) the Mortgage Market Review (MMR) will ‘put common sense at the heart of the mortgage market and prevent borrowers ending up with a
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Government says benefit claimants more responsible than workers

31 March, 20140 Comments
The majority of the Mortgage Market Review changes will come into effect on 26th April 2014, where new rules will mean that borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. Please read : Mortgage Market Review explained by the FCA. Please read : How will the Mortgage
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Accurate tenant referencing and landlord communication is the way forward

03 February, 20140 Comments
With the impending welfare reform via Universal Credit, legislation to tackle illegal immigration, more landlord Licensing schemes being implemented and stories such as Landlord Fergus Wilson’s recently hitting the headlines; landlords and letting agents need to realise the severe implications if they continue to go about their business without the means of accurate and thorough
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Landlord claims Universal Credit will cost £8 million a year!

07 December, 20120 Comments
A landlord on a Universal Credit pilot project has claimed that the abolishment of direct payments of rent will cost it £8 million a year. Wakefield District Housing (WDH) is running one of the six pilot projects to test the effectiveness of direct payment of Universal Credit to tenants, and has calculated that the reforms
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What are Credit Unions?

03 July, 20124 Comments
What is a credit union? Credit unions are * “not-for-profit” financial co-operatives, which are democratically owned and managed by the members who use them. (* The term not-for-profit should not be confused with non-profit. Not-for-profit means that they operate to serve their members rather than to maximize profits, whereas non-profit means that they rely purely
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