The financial services industry regulator, the Financial Conduct Authority (FCA), has set out a new set of rules for mortgage advisers, and lenders, to improve the process of getting a mortgage.

In the past, some people were allowed to take out mortgages they couldn’t afford. This meant they fell behind with payments or lost their homes.

The Financial Conduct Authority (FCA), the financial services industry regulator, has set out a new set of rules for mortgage advisers like us, and lenders, to improve the process of getting a mortgage, and prevent these past problems.

Under the new rules, which came into force on 26 April 2014, your lender must check that you can afford your repayments now and in the future. To do this they will need information about your income and outgoings. You will have to tell them if you expect your income and outgoings to change in a way that means you’ll have less to spend on your mortgage payments.

You will also need to give your mortgage lender evidence of your income.