Some 31% of people who plan to buy a property within the next two years are unaware that mortgage rules were overhauled more than a year ago and a further 35% did know that the regulations had changed, the study by lender and broker Ocean Finance shows.
In April 2014, the biggest piece of mortgage regulation in a decade came into force. The changes, brought in by the Financial Conduct Authority, mean lenders must take additional steps to ensure borrowers only get a mortgage they can afford.