Tougher mortgage rules to come in
%VIRTUAL-SkimlinksPromo%People applying for a mortgage face more probing questions into their spending habits when the biggest shake-up of the market for a decade comes into force in one month's time.
Toughened industry-wide rules means that from April 26, mortgage providers will take a keener interest in an applicant's outgoings, which could include what they spend on childcare, clothes, phone bills, hobbies, travel and season tickets, in order to work out whether or not they can afford their home loan.