Here in the UK mortgage approvals fell to a 19 month low.
As always the news headlines that you see and hear in the media are for the UK nationwide.
Here in Camberley and surrounding areas, we are in a unique position. Here at Michael Usher Mortgage Services, we are rather busy with obtaining mortgages for our clients.
Although it is more difficult that than it was 2-3 years ago to get a mortgage, there is a shortage of property in the south of England.
It all comes down to the mortgage deposit that you have.
People still want to buy, but have to either save more for their deposit, or find money from an external source to help them achieve getting their deposit together.
Often young people will go to their parents for help, or a friend or relation.
They work out a deal whereby, the deposit is lent to the buyer on the understanding that when the house is sold, the parent, friend or relation will be repaid with interest or a cut in the profit.
I have known many parents do this and it makes sense.
In the good old days, “well off” parents always (if possible) lent their kids money for their deposit.
If you are thinking about how you can get a mortgage and you need some advice on raising enough money for a mortgage, give me a call.
For mortgage advice in Camberley, Farnborough Aldershot and Basingstoke…
Call me 01276 670777
