Mortgage Affordability
sep 23 2009 marketing chiq montes
Traditionally, the concept of affordability in relation to mortgages was based on the salary of the would-be borrower. Lenders were usually willing to offer mortgages up to a multiple of the borrower’s salary, typically between three and four.
Recently, however, some lenders have adopted a different approach, under the banner of “affordability”. The new concept is [...]