Aspiring homeowners can overcome hurdles to homeownership with your help, says Amanda Bryden, head of Halifax Intermediaries
First-time buyer numbers have remained resilient in the face of tough challenges over the last few years.
Over 341,068 bought their first home last year, accounting for over half of all mortgaged home purchases. They spent an average of £311,034 and put down a typical £61,090 deposit.
Despite so many managing to achieve it, getting onto the ladder is still wildly expensive and many others simply can’t afford to buy. Of those who do buy a home, around 40% are only able to do so because of deposit help from the Bank of Mum and Dad.
Whether they have parental support or not, mortgage brokers give aspiring buyers a smooth and supported route to homeownership, often going well beyond the mortgage and holding their hand through the whole process.
Below are some of the best ways to help your clients prepare their finances to put them in the best possible position to get a mortgage.
