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RESPONSIBLE LENDING – ENSURING IT IS POSSIBLE TO AFFORD THE MORTGAGE

Since 2010, new responsible financing conditions arrived into force for many consumer loans. Under these regulations lenders need to use steps that are certain make certain that: customers get loans which are suited to their purposes and customers are able to afford to repay their loans without significant difficulty. From 2013 extra lending that is responsible affect SACCs in particular. These guidelines say that: payday lenders cannot simply simply just take safety (eg. a motor vehicle) for...

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