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Topher Bear

Mortgage Criteria

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I've been looking at the effect of loans on mortgage lending criteria today as i'm considering a new car on finance (no debates on this - not relevant to topic). In the past it used to be that they would work out your annual payments and take that off your salary before applying the multiplier. Looking at the nationwide calculator they now multiply your annual loan repayments by 3.3 before removing from your salary and then applying the multiplier (about 3.9 at the moment). I don't know if this is just nationwide or across the board, but they are really hammering extra debt!

There has been talk of fixing the salary multiplier, does anyone have any news on if this might happen and when and to what value?

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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