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Tag: LENDER
LENDER
What income is included in a lender’s affordability assessment
In the UK, when a lender assesses affordability for a mortgage or other loan, they typically consider various sources of income to determine the borrower’s ability to repay the loan. The income sources generally included in a lender’s affordability assessment can vary slightly depending on the lender and the type of loan, but they commonly… Read more
Reasons why a lender can withdraw a mortgage offer
A lender can withdraw a mortgage offer at various stages of the home buying process, typically due to changes in the borrower’s circumstances or new information coming to light that affects the lender’s assessment of risk. Here are the main scenarios and reasons when a lender might withdraw a mortgage offer: Common Reasons for Mortgage… Read more