Recent affordability checks, introduced at the end of April this year are reported to have put nothing more than a “gentle dampener” on the UK mortgage market.

The new Mortgage Market Review checks (MMR) – have only been in operation for the last few months, and mean that applicants now have to provide additional detail about their income and expenditure during mortgage application interviews.

However, despite these changes lenders are reporting a steady increase in enquiries from first-time buyers.


Source: BBC News