Related topic: Affordability

As the Government prepares to set out further details of its proposed first-time buyer support, Yopa warns that boosting purchasing power without increasing supply could worsen...

The changes could allow some borrowers to access tens of thousands of pounds in additional mortgage borrowing, with lower and middle income applicants expected to benefit.

A household on an average combined income of £53,500 can now afford a home listed at up to £301,000.

The data points to a weaker Q4 as buyer demand remains subdued and rising swap rates put renewed pressure on mortgage affordability.

Rates on the majority of Atom Bank’s prime and near prime ranges have been cut by 0.10%.

The changes will enable borrowers to increase their maximum loan amount by up to £31,000.

Matt Meecham, director at Check, says income, expenditure and other financial activity can be just as important as knowing what appears on a credit report.

The calculator has been designed to consider a broad range of lending scenarios and incorporates live product data.

The range offers brokers and their clients enhanced affordability on longer-term fixed rate mortgages.

The lender has updated its affordability model to take into account the higher EPC ratings of new build homes.