There will be headlines such as "lifestyle quiz to secure a mortgage" or "mortgages to be harder to obtain" and many others of a similar ilk.
To be honest, much of this is just scare-mongering. Do not believe the hype. Yes it is true that there are changes happening in the mortgage market. Yes it is true that lenders are having to alter the way they do things.
But the important message from me, as a mortgage broker, is that it is very much business as usual.
We already go through a process with clients of establishing income and expenditure. We look at what our clients want to achieve, which lender is the best fit for their situation and recommend a suitable course of action. There will be no change to this process on 26th April.
Welcome Mortgage Solutions Ltd will continue to search mortgages from the whole of the market. We will look at every single mortgage deal without restriction. Other brokers may decide to exclude deals only available direct from lenders. We will not. We will still operate on the basis of what is best for our customers, what gives you the most value and what saves you the most money. Again, no change here from 26th April onwards.
There will undoubtedly be some procedural alterations with the banks and building societies. Many of these have been implemented already so we should not see too many problems come Monday but it would be naive not to expect some issues from their perspective. These will need managing and we will all have to demonstrate some patience whilst this happens.
I have produced a brochure outlining the changes which you can download below.
The Financial Conduct Authority have a consumer leaflet which I have also attached for your perusal.
It is important to remember that no matter how bleak a picture is created by the many different news outlets over the weekend, I am only a phone call away and happy to discuss any of the implications of the new rules with you.
Should you wish to chat about mortgages at all, please give me a ring on 0844 736 1920.
I will continue to post updates on how the new rules are working over the next few weeks so keep checking this site out for the latest developments.