Over 1 million homeowners having difficulty meeting mortgage repayments

28 June 2017

A young Asian man and woman look worried as they use a calculator to complete financial advice or budgeting paperwork.

Recent studies from L&C Mortgages show that 1.4 million UK homeowners are having difficulty meeting their mortgage payments, with around 2.6 million believing that their monthly payments are too high. The statistics state that over half of those homeowners have never remortgaged for a better deal, even though 2.5 million people say they had no other option but to make serious cutbacks in their spending to ensure they can make their mortgage payments.

With such a large range of mortgage options currently available on the market, there will always be a better deal for homeowners, but finding it may be a little harder when trying to do it alone. Sometimes consumers stick with their current mortgage provider as they believe it will be easier, but shopping around is always advisable to ensure homeowners can find the best option to suit their needs. Mortgages and remortgages can be difficult to fathom, and when it comes to choosing a mortgage that is right for the individual, it can be a daunting prospect to face without having the invaluable current market insight. That is why getting the help of a mortgage adviser should be the first port of call for any new or existing homeowner looking for the best deal for them. Qualified advisers know the market and will be able to find the best package to suit the needs of the homeowner without leaving them to make cutbacks and dip into savings.

The mortgage industry is ever growing, and with so many homeowners in need of guidance in their mortgage options, receiving the help of a CeMAP® qualified mortgage adviser is paramount. If becoming a mortgage adviser is something you have always wanted to do, then why not get in touch for further advice and information on how Simply Academy can help. Get in touch with our helpful student support team on 01279 874 430 and let us help you reach your full potential.

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