Due Dilligence

Due Dilligence

This is a process that will be undertaken by a mortgage lender to assure themselves that the risk of lending you the substantial amount of money required to purchase a house is minimised. Involves checking your personal details/ status and that of the property you wish to buy. The term is used in other industries to, to indicate a period of research, or checks to ensure the suitability of an undertaking of some sort.

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The FSA recently announced that should the economy see further drops in unemployment and rises in interest rates the Middle Class familis of the UK will be hit the hardest. Such vulnerability is shown due to the increased amount of borrowing over the years and can only be seen as more bad news should these two [...]
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The Council of Mortgage Lenders (CML) said UK mortgage lending increased by 14% in December compared with November, to £13.7bn and the market was entitled as being ’surprisingly strong’. The latest figures from the CML show that UK mortgage lending was up 3% in December compared with the same month a year earlier. A CML economist said [...]
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