Andrew Fagg Davenport Financial Management

Andrew Fagg of Davenport Financial Management

Despite some people having concerns about the Mortgage Market Review (MMR) which came into effect on the 26th April, many lenders have been applying the principals of making sure customers can verify their income, outgoings and withstand an increase in interest rates, for some time now.

It’s a positive drive towards more responsible lending and is there to protect buyers, lenders and the economy, not to reduce the number of mortgage loans issued or get in the way of those who can comfortably afford a mortgage.

I have found that new mortgage customers are showing more confidence, recognising the rationale of the MMR and coming to me with reasonable expectations, often with the ability to service larger loans.

Where the MMR is causing issues is where some big lenders have not been able to ensure all their staff are adequately trained in time therefore they are not able to provide the advice led service as required by the new reforms.

I have completed all the necessary training and so if you want to avoid queues at the bank and have your pick of a wide range of mortgages available from the market that might be suitable for you contact me on 07720353866 or andrew@davenportfinancial.co.uk.

Andrew Fagg

Click here to read my previous blog detailing the Mortgage Market Review

 

Davenport Financial Management Limited is authorised and regulated by the Financial Conduct Authority. Davenport Financial Management Limited is registered in England No: 05608901. Registered office: Sherwood House, 41 Queens Road, Farnborough, GU14 6JP, Telephone 01483 427366. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.