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- MMR guidelines mean lenders now factor in student debt
- University costs have ballooned in recent years
Graduates with a mountain of student debt could find their future plans of buying a home thwarted after the Financial Conduct Authority confirmed the debts are now considered by mortgage lenders after the introduction of the Mortgage Market Review in April. In the current academic year, university fees can be up to £9,000 per annum, not counting accommodation and cost of living, meaning debts of tens of thousands of pounds for students. But despite recent advice suggesting otherwise, graduates will now have these student loan debts included in the affordability calculation for a mortgage.....Read more here