We’ve had another record breaking month here at Michael Usher Mortgages.
Having expanded our offices a year ago and taken on extra staff, we are seeing a much wider group of clients. 
We’ve had lots enquiries from first-time buyers, those wishing to remortgage, the older market looking into Equity release.
All in all a very busy month despite the MMR or Mortgage Market Review that came in at the end of April
The Mortgage Market Review reforms
Some of the main changes are that:
- customers need to satisfy lenders that they can afford the mortgage – they must provide evidence of income in all cases;
- customers can borrow an interest-only mortgage as long as there is a credible repayment strategy;
- most interactive sales (for example face to face and telephone) must be advised, unless the customer is a mortgage professional, a high net worth mortgage customer or a business borrower; and
- non-advised sales are not allowed, but execution-only sales are allowed in certain circumstances;
You can get more information about MMR here
http://www.fsa.gov.uk/library/policy/policy/2012/12-16.shtml
So if you need to re-mortgage, are a first time buyer, or looking into equity release, then call in and get some free advice from one of our team.
