February 2020
 

Since the introduction of the MMR in 2014, Paradigm have produced a monthly affordability document. Due to the fact that we were seeing very few changes in this area, and following member feedback, we recently changed the format and we now use a new scenario every month. Into each scenario, we will build various levels of lending criteria, property details, as well as changes to the client’s income and personal circumstances. We hope that this will help give you a more accurate indication of the potential lending capability of different types of clients. 

February's Affordability Stress Testing details a more complex affordability scenario where we are focusing on who offers the best ICR stress tests. We are looking at a limited company 6-bedroom HMO and, in the future, we will look at other BTL scenarios to show a variation of calculations. Please see below for February's results...

2 Year Fixed Products

LendInvest - £387,692
Foundation Home Loans - £366,545
Landbay - £366,545
Kent Reliance - £366,535
Precise Mortgages - £366,519
Keystone - £365,400
Kensington  - £353,448
Fleet Mortgages - £333,223
TML - £327,272
TMW - £297,064
Vida Homeloans - £258,460