Sentence examples for affordability check from inspiring English sources

However, before allowing the switch, the lender is likely to do an affordability check.

If they want to remortgage to another lender, this will be even more difficult, as they will have to go through an affordability check, and the interest-only nature of the loan is likely to make the lender wary.

The Financial Conduct Authority (FCA) has proposed that all borrowers should have an "affordability" check before being given a loan.

The new system, which comes into force fully on 26 April, ensures that lenders conduct a full affordability check on mortgage applicants.

The industry has been referred to the Competition Commission and regulators have promised a tightening of the rules, with all borrowers set to be offered an "affordability" check before being given a loan.

"Parts of this industry – not all – are offering loans without doing any affordability checks and loading costs on to people who simply can't afford to pay – and that's the part of the industry we want to take out," he said.

In April, it introduced tough new affordability checks and limited lenders' access to borrowers' bank accounts.

Affordability checks would be mandatory before a payday loan can be agreed.

There are no rollovers, no cold-calling, no aggressive collection tactics and stringent customer affordability checks.

To meet affordability checks and qualify for mortgages, borrowers have had to raise increasingly large deposits.

We have long called for more responsible affordability checks and better advice.