3. USE OF MORTGAGE PRODUCTS
3.1 Which Type of Mortgage?
- What is the client's viewpoint, and has good or poor past experience
formed such an opinion. Is the preferred choice suitable?
- Can the client afford the preferred choice? Will an increase in
the interest rate make payment difficult?
- Is the preferred choice flexible enough to cope with changes
in the borrower's situation i.e. could the term be extended or payments
reduced?
- How often is the borrower likely to move house? Would they want
to maintain the same term, or would they accept taking on a new,
perhaps extended, term of repayment
|
|