Tougher Mortgage Borrowing Conditions
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Business
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University
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Hard
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main issue Anna Marie faces with her mortgage?
She wants to buy a new house.
Her ex-partner refuses to pay the mortgage.
The house is worth more than they paid for it.
She cannot afford the mortgage payments alone.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the new guidelines introduced by the Financial Services Authority?
Allowing self-certification mortgages.
Stress testing mortgages for interest rate increases.
Eliminating income verification.
Encouraging reliance on rising house prices.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of stress testing mortgages?
To ensure borrowers can handle interest rate increases.
To reduce the mortgage term.
To increase the value of the property.
To verify the borrower's employment status.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How would the new guidelines have affected borrowers from 2005-2007?
They would have received lower interest rates.
They would have been denied mortgages.
They would have been required to pay higher fees.
They would have been offered larger loans.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What assumption is considered dangerous according to the new lending guidelines?
Assuming house prices will always rise.
Assuming borrowers will always have stable jobs.
Assuming all borrowers have the same financial needs.
Assuming interest rates will always fall.
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