63% Of brokers not worried about 5 x mortgages

A whopping 63% of brokers say 5 x income mortgage products are not a recipe for disaster. Abbey last week received widespread criticism following the stretching of its income multiples to 5 x despite many within the mortgage industry stating that lenders had been stretching to similar levels for some time.

This week Mortgage Strategy asks: “Should lenders impose a maximum age limit on mortgages?”

Q: Are 5 x income mortgage products a recipe for disaster?