With steadily increasing house prices and tighter regulation and affordability criteria, many are now shut out of the property market – unless they are prepared to save for 10 years to accumulate a 20 percent deposit.

No increases in wages, yet increasing rents and house prices, means most young first-time buyers are facing a decade, at least, of saving before being in a position to own their own home.

While many lenders do provide mortgages with lesser deposits of 5 percent or 10 percent, the rates and ultimately the monthly repayments are higher than if borrowers are able to get a larger deposit together.

Shelter, the housing charity, has recently reviewed rent paid and average wages, along with average spending to highlight the challenge that today’s first-time buyers face. Many now resort to help from their parents to get the foot on the property ladder as required.

When you choose the career path of a mortgage advisor, you commit to undertake the CeMAP training and pass the end exam. This will allow you to best advise your customers as to the most appropriate mortgage solution for their needs. You will be able to assess their affordability and act within the guidelines of the regulation set out by the Financial Conduct Authority. You will be the first point of contact for those looking to purchase their first home, and someone who will be respected and looked upon for guidance and support by their customers, as they manoeuvre their way through their mortgage journey.

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