Young Home Owners and the Haves and Have Nots
According to the BBC “Rising house prices have not only left fewer young people able to buy a home, they have also divided them into property "haves" and "have-nots". Over the past 25 years only a small group of young adults have been able to get on to the property ladder - and this has been getting smaller. A result of rapidly rising house prices, this trend has led to concerns that younger generations will never be as wealthy as their parents.” Read the full article.
At Cotswold Independent Mortgages we often work with those buying their first property – whether they are going to live their themselves or are buying to let. Some have received financial support from their parents or other family members to help make the move and others have been saving for years.
It is important to ensure those we work with understand the process and steps along the way in securing a mortgage and we pride ourselves in keeping our clients updated with the status of their mortgage application. It’s a huge milestone and our role as independent mortgage advisers is critical to making this transition with the most suitable mortgage available.