Could you borrow more? The mortgage rule changes every buyer should know ✅
CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
This article was published on Rightmove's website on 10th June 2026, to read it in full, click here.
🔸 The Financial Conduct Authority (FCA) has launched a review of the UK's mortgage rules, with the aim of making borrowing work better for today's buyers.
🔸 Nothing has changed just yet.
🔸 However, if the proposals move forward, they could make it easier for more people to access a mortgage while maintaining responsible lending standards.
What's changing? 📋
🔸 The FCA is reviewing whether current mortgage rules still reflect how people live and work today.
🔸 Rather than introducing riskier lending, the proposals focus on giving lenders greater flexibility to assess each applicant's overall financial position.
🔸 In simple terms, lenders may have more freedom to look beyond rigid criteria when assessing mortgage applications.
Who could benefit?
🔸 If the proposals are introduced, several groups could find it easier to obtain a mortgage.
🔸 First-time buyers who can comfortably afford repayments but currently struggle to meet strict lending criteria.
🔸 Self-employed buyers whose income varies throughout the year or is taken through dividends or retained profits.
🔸 Older borrowers looking to move home or release equity later in life.
Buyers with non-traditional income sources who don't always fit a standard lending model.
🔸 Importantly, affordability checks are not being removed.
🔸 Lenders would still need to ensure borrowers can comfortably afford repayments, including if interest rates were to rise.
What could this mean for Nottingham buyers?
🔸 If more lenders are able to assess applications more flexibly, buyers could benefit from:
🔸 A wider choice of mortgage products.
🔸 More personalised lending decisions.
🔸 Greater opportunities for buyers whose circumstances don't fit the traditional mould.
🔸 For many people, this could mean turning a "not quite" into a "yes".
What this doesn't mean ⚠️
🔸 It's important to keep expectations realistic.
🔸 These proposals do not mean:
🔸 Mortgages will suddenly become easier for everyone.
🔸 Deposits will disappear.
🔸 Affordability checks will be removed.
🔸 The FCA has been clear that responsible lending remains a priority. The intention is to modernise how affordability is assessed, not lower lending standards.
The Cavendish perspective
🔸 The property market has changed significantly over the last decade.
🔸 More people are self-employed.
🔸 More buyers have multiple income streams.
🔸 More homeowners are working later in life.
🔸 Mortgage lending is now beginning to reflect those changes.
If you're thinking about buying a home in Nottingham, now is a great time to speak with an independent mortgage adviser to understand your current borrowing position and keep an eye on how these proposals develop.
If you would like us to put you in touch with the right mortgage specialist, complete the form opposite ➡️ or email lisa.dahl-parsisson@cavendishproperty.co.uk 📧
Please note: At the time of writing, these are proposed changes only. The FCA's consultation is ongoing, and no new mortgage rules have yet come into force.
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