The latest data to be issued by TMA Club shows that the two biggest priorities for mortgage advisors during this second quarter of
the year are credit issues and types of income.
This data is based on the enquiries that advisors have made to the team on the support desk at TMA Club. Throughout this quarter, residential mortgages for clients with credit history issues and financial support for people with residential loans were the two most common areas that the support desk assisted advisors with. Third on the list was help for foreign nationals seeking residential mortgages.
In particular, credit issues as they relate to getting a residential loan were a major focus of advisor enquiries. This is because more mortgage advisors are now trying to help people who have defaulted on payments, missed them or who have County Court Judgements against them for outstanding debts.
Much of that is connected to the ongoing rises in everyday living costs. A study conducted late last year discovered that close to half of people in the UK with a mortgage were fearful about their ability to keep up with the payments due to other costs going up.
Enquiries about types of income are also connected to that crisis, with more people than ever struggling to meet the affordability criteria needed to secure a mortgage.
No one who has done a CeMAP training course will be surprised at what this data shows, as increases in living costs are clearly a major concern for everyone now.
