Mortgages up despite a fall in income

20 February 2017

First Time Buyers

Recent statistics from the Mortgage Advice Bureau have shown that mortgage affordability has increased even though average incomes have fallen. Reasons for the increased borrowing could be due to the low interest rate mortgage products currently available on the market, giving borrowers a wider scope for a great deal when purchasing or remortgaging property. With such competitive rates available such as Santander’s 0.99% fixed-rate deal which has been launched recently, borrowers with a lower income who may have struggled securing a mortgage in the past now have a better opportunity to take advantage of these offers as lenders are showing more flexibility to accommodate them.

As banks and building societies are offering record low-rate products, the market is currently flooded with competitive offers, giving consumers a vast array of options to choose from. Such a broad range of products available means home-buyers may find it daunting to find the right offer to suit their needs, therefore enlisting the help of a professional mortgage adviser will not only save time but potentially save them money too by finding the best deal. Mortgage advisers will always be in high demand due to the specialised skillset they can offer in helping home-buyers, and with these increases in mortgage affordability teamed with the low interest rates, there is no better time to move into this exciting new industry.

If becoming a mortgage adviser seems like the next step in your career, then training with Simply Academy will set you off on the right course to complete your examinations and becoming fully qualified. To find out more information or to book your chosen CeMAP course get in touch with our informative support team on 01279 874 430.

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