Credit Contracts and Consumer Finance Act (CCCFA) में July 2024 में significant changes हुए।
Brief History
जब CCCFA के stricter lending rules December 2021 में लागू हुए, property buyers के लिए major obstacles create हुए। Banks को borrowers के expenses का exhaustive assessment करना था।
July 2024 Reforms
Government ने 11 pages की prescriptive affordability regulations revoke कीं। Key changes में prescriptive expense categories removal, more lender discretion, और reduced compliance burden शामिल हैं।
What Still Applies
Lenders को still reasonable inquiries करनी होती हैं income और expenses के बारे में, ensure करना होता है कि आप loan afford कर सकते हैं।
What This Means
अगर आप 2022-2023 में declined हुए, lending environment significantly change हो गया है।
Need Help With Your Mortgage?
Our expert advisers are here to guide you through every step of your mortgage journey. Get in touch for a free, no-obligation consultation.
Talk to an Adviser
