Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

algor

Lending

Recommended Posts

A friend of mine who works in a bank says that the old (3.5*salary) rule of the thumb for mortgage lending is out the window and that lenders are working with higher multiples of yearly income now (I believe he said 5-6). I was wondering if anyone knew where the 3.5 rule came from and whether it is viable to move away from this on a permanent basis?

Share this post


Link to post
Share on other sites

I don't know if it was a formal rle as such or just a rule of thumb, but I gather that all this changed with mortgage de-regulation. I'm sorry, but I don't know when that happened either!

Somebody should be able to answer that here...

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.