Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
Embarking on the journey to apply for a mortgage as a first time buyer is undoubtedly an exciting but often anxious time. Navigating today’s complex mortgage market has become increasingly complex. An independent mortgage broker becomes your indispensable ally. Beyond being a mere intermediary, a mortgage broker is your guide through the intricacies of today's dynamic mortgage market, offering essential specialist mortgage advice.
The Bank of England Base Rate is currently at 3.50% and is predicted to rise. Anything else as far as mortgages are concerned, is anyone’s guess. We are seeing mortgage rates start to fall and house prices are predicted to fall. But while it’s impossible to predict what will happen to the housing market, it is possible to ensure you get the right mortgage rate in 2023. And here’s how you do it.
