UBS survey finds customers are still lying about their financial details on mortgage applications and more worryingly, saying their bankers told them to do it.
and suffered hefty blowouts in the time it takes to assess loans, meaning if the survey is correct it has suffered a double whammy of being slow and inaccurate.
But he said the banks had several defences, citing the fact that 51 per cent of customers are more than three months ahead on mortgage payments ; 25 per cent of respondents have levels of savings buffers and emergency funds at hand to cover seven to 12 months’ repayments; and 39 per cent of respondents said their total household income is well above spending.
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