Different lenders employ different ways to make sure they get paid — through positive or negative incentives.
Not exact matches
If the Borrower has been self -
employed for less than two years or is relocating to a
different geographic area, the
Lender must consider the acceptance of the company's service or products in the marketplace before considering the income for qualifying purposes.
Because
lenders take on a certain amount of risk every time they give out a mortgage, they need to
employ different measures to protect themselves.
Keep in mind, that mortgage agents work solely for the bank that
employ them, while brokers are independent and represent a number of
different lenders.
Importantly, the FCA should also keep in mind that P2P
lenders operate under a very
different set of principles to that
employed by the banks.