| What a difficult time to get on the property ladder. | | | | property my advice would be to seek expert advice |
| We've got lenders that are being very cautious with | | | | from a mortgage broker. There are brokers that will |
| their lending which of course affects consumers who | | | | charge a fee for the service however in my opinion |
| two years ago would have no problem getting on the | | | | you can get just as good a service from no fee |
| property market now either aren't credit worthy | | | | mortgage brokers. To find a good one you could look |
| enough or are unable to afford the deposit demands. | | | | for reviews on the internet or ask family and friends if |
| For those that have recently taking a mortgage on a | | | | they have had a good experience with a broker. |
| fixed rate deal may get put on a standard variable | | | | You can get personalised advice on the best products |
| rate mortgage by their lender. With limited options they | | | | for you from a mortgage broker, the current market |
| unfortunately may be stuck on this expensive rate. | | | | state and market trends from a broker who hopefully |
| The news regularly comments on the state of | | | | has had at least a couple of years experience in the |
| approvals and lending which recently has improved, | | | | market. |
| marginally which could be a sign of improvement | | | | Ask about shared equity mortgages as an alternative |
| however it is too early to tell either way. You could | | | | to traditional mortgage types. To side step the huge |
| wait it out until lending becomes more competitive | | | | mortgage deposits which for those with near perfect |
| again and rates improve or if you are set on buying | | | | credit scores are still 10 to 15 per cent, the normal is 15 |
| now or can afford one of the better fixed rate deals | | | | to 20 per cent. If you aren't in a position to put forward |
| and want to lock in now then here are a couple of | | | | this kind of equity you could ask your parents or friend |
| suggestions to help you with the process. | | | | if they would be willing to take a stake in your property |
| If you are about to renew or want to get your first | | | | to help you buy a home. |