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Martin Lewis: We’re ending ‘you can’t afford a cheaper deal’ rejections
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mirror.co.ukMartin Lewis has been left with a big smile on his face after finally succeeding in freeing a mortgage prisoner. Mortgage prisoners are people who are unable to move house or get a new mortgage because the rules changed after they bought their homes - meaning they are now ineligible for new deals.
People have also been trapped thanks to changing circumstances - from a loss of work to a fall in house prices or even their age - leaving them unable to switch to a cheaper deal because mortgage lenders' software says they "can't afford it".
It's left some of them paying thousands more a year in interest as a result. But the "illogical and unfair system" that saw people told more expensive deals were all they could afford is finally starting to
Read more on mirror.co.uk
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