In the current financial climate the scrutiny surrounding mortgage approvals is becoming more intense, especially for first time buyers.
The news that all financial commitments, including gym memberships, may act against you when looking to get a mortgage quote is worrying for many. Especially when considering the argument (which I’d like to propose) that optimal health will increase financial stability and job security further down the line due to a reduction in sick days, hospital stays and improvement in productivity and employability (not legally but one may argue that employers consider fitness when interviewing).
Unfortunately with the current economy it may be time to batten down the hatches and prepare for the onslaught of questions put to you by your now not so friendly bank manager. You can’t really blame financial organisations for being a little bit more safe in how they lend however the intelligence of analysing populations really does need to be analysed, I’m not one for stereotypes however in this case I’d like to propose that individuals committed to organising their health and wellbeing tend to have other areas of their life in order too, at least that’s what I like to believe, in which case it’d be those spending copious amounts of money on Saturday nights down the local boozer that may be less desirable to lend to.
If you’re reading this article however it’s unlikely that you should panic, I know my audience is a group of people getting everything sorted, hence the interest in our articles! I just wanted to provide something I found surprising when it comes to a financial trip up.
Jack Barton (Researcher, Rescon Ltd)
Links
https://uk.news.yahoo.com/gym-fees-could-stop-mortgage-approvals-032648032.html