Why you need to be concerned about affordability

Why you need to be concerned about affordability

Despite tightening regulations to protect consumers from over-indebtedness, insolvencies for 18 to 34 year olds are up by one third. The Bank of England predicts lenders writing off £30bn of loans.

Good conduct requires lenders to take into account the impact a loan would have on a borrower’s budget and ability to meet basic expenditure.

Read more about new regulations and using the power of data to improve affordability assessments at the NestEgg blog.