There is growing support for mortgage lenders to take in to consideration rent payments as proof people can meet mortgage payments.
More often than not rental payments are higher than mortgage payments and for those who pay their rent on time, every time, should have this included in the decision making when lenders are assessing a mortgage application.
Lenders currently considering a whole host of different factors, the government appear to be in support that a history of paying rent on time is something lenders could take in to account when assessing creditworthiness. Not only is this great news for first time buyers but it simply makes sense.
If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth