How is affordability determined?
Mortgage affordability in the UK is determined by several key factors that lenders assess when considering a borrower’s application. These include income, existing debts, credit history, and the size of the deposit available. Lenders typically look for borrowers to have a stable income that allows them to comfortably cover monthly mortgage payments without overextending their finances. In addition, the amount of debt a borrower has, including loans and credit card balances, is taken into account to ensure they can manage their financial commitments. The size of the deposit is also crucial, as a larger deposit can reduce the loan-to-value ratio, potentially leading to more favourable interest rates. As affordability assessments are designed to protect both borrowers and lenders, recent changes in regulation have made these checks more stringent, ensuring that borrowers are not taking on more than they can reasonably repay.
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Adverse Lending
Having adverse credit doesn’t always mean your mortgage options are limited. In fact, there are many lenders who offer flexible solutions designed specifically for borrowers with past credit issues, whether it’s missed payments, defaults, CCJs, or a low credit score. Every situation is unique, and with the right guidance, you may be surprised at how many routes are available to you. Our role is to explore the market on your behalf, understand your circumstances, and help you find a lender who can support your goals—so you can move forward with confidence, regardless of your credit history.
How is affordability affected?
Adverse credit can influence how lenders assess your affordability, but it doesn’t necessarily prevent you from getting a mortgage. Lenders may look more closely at your income, outgoings, and financial stability to ensure the mortgage is manageable, and some may apply different criteria or offer products designed specifically for customers with previous credit issues. While adverse credit can sometimes reduce the amount you’re able to borrow or affect the rates available, it doesn’t close the door on your options. With the right support, we can help you understand how your credit history affects affordability and guide you toward lenders who take a more flexible, understanding approach to your circumstances.
Adverse Credit
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