I'm a mortgage broker of 35 years experience and what surprises me is how much personal credit youngsters have. So many low paid people have huge car finance/loans/hp and hefty credit card bills. If they are able to buy (4.75 times income common at 90% or less) then all the furniture needs to be Instagram perfect and all new. Many of those coming back after 2 years have to stay with their current lender on a new product as their affordability (credit taken after purchase) won't allow them to go elsewhere. Managing with old furniture, making do and saving seems a think of the past......Originally Posted by lardy
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