Mortgages Become More Accessible For All
25 April 2017
Recent research from the Intermediary Mortgage Lenders Association shows that mortgage accessibility has hit a three-year high, with almost 30% of brokers having no problem accessing mortgages for all client types in the second half of 2016. The statistics show that the rate has doubled since the first half of 2015 which stood at just 15%, while the rate of brokers unable to source mortgages for first-time buyers in the first half of 2016 fell from 26% to just 16% in the second half of the year. The number of brokers who were unable to source mortgages for self-employed buyers were also halved, dropping from 50% in the first half of 2016 to 25% in the second half.
The research from IMLA shows that the remortgage market looks to have the best prospects for growth going forward in 2017, closely followed by first-time buyer lending which is increasing substantially due to lower deposit options. Due to the extensive range of low interest and longer fixed-term mortgages available on the market, borrowers have more choice than ever before to secure the best deal to suit their needs. Remortgaging homeowners are given more choice and first-time buyers now have a better opportunity of getting their foot on the property ladder.
Mortgage advisers are always at the forefront of the mortgage market, so enlisting the help of a professional adviser will give borrowers and homeowner’s peace of mind that their requirements are being met, while also providing the best possible options and service to make the experience easy and right for them. If you are thinking of becoming a mortgage adviser, then get in touch to find out how you can become fully qualified to start your new and exciting career in the financial industry. For more information about how Simply Academy can help you take the first step on your new career path, call 01279 874 430 to speak with a member of our student support team.