South Yorkshire mortgage advisor says there's 'plenty of options' for aspiring home owners
Troy Mallard is from Mallard Mortgages in Rotherham
People with a bad credit history or a low deposit in SY & ND are being reminded they can still get on the property ladder.
It's as new research has found millions of possible first-time buyers in the UK are being held back by confusion around mortgages.
Troy Mallard is a mortgage advisor in Rotherham - He has this advice:
"Because of the cost-of-living crisis and because of rising rental costs, the average age of first time buyers is increasing.
"So, it is harder for first-time buyers when they are saving, but lenders are there to support people wanting to get on the property ladder.
"Mortgage lenders are bringing out these 95% mortgages to try and stimulate the property market and help first-time buyers.
"A lot of people these days with use Chat GBT or AI to try and answer their mortgage queries these days, but that is very generic in a lot of cases.
"The only way to way of establishing how much you can borrow or how much deposit you need to put down is to speak to a mortgage broker who has access to the whole of the market."
Millions of would-be first-time buyers are being held back by widespread confusion about mortgages, according to new research from the HomeOwners Alliance.
The findings suggest many would-be buyers are ruling out getting on the property ladder because of assumptions about the mortgage process that may not reflect how the market operates today.
While a bad credit score can make getting a mortgage more difficult, 65% of people wrongly think it means you’ll always be turned down. Your credit score isn’t the only thing lenders consider.