An affordability assessment is the process which lenders complete to establish if you can afford to repay the loan repayments over the term of the loan.

Affordability assessments take your incomings and outgoings into consideration to help lenders assess whether you can afford to make repayments over the full length of a loan and if the loan is sustainable for you.

Any responsible lender will look at your financial situation to help determine if you can afford to pay back the money you’ve applied to borrow plus any interest and charges.