It has recently been revealed by the Council of Mortgage Lenders (CML) that approved lending for Buy to Let properties rose by over 25% during the last quarter of 2014, overtaking the numbers of first-time buyer approvals.

There was a 32% increase when compared to the same time in 2013, with loans of £7.7 billion for landlords. First-time buyer borrowing had increased by a modest 5% over the course of the year, but when compared to the last quarter of 2013 it had reduced by around 2%, at a borrowing level of £11.6 billion.

There is some concern at the apparent decline in home ownership, and the correlating tax break that landlords receive. Campbell Robb, who is the charity Shelter’s chief executive, said:

“Another rise in house prices is yet another blow to the millions of people across the country with barely a hope of getting on the housing ladder, no matter how hard they work or save.”

He elaborated by stating that the choice of most potential first-time buyers is to stay in the room from their childhood, or move to rented accommodation and get stuck in the cycle of being committed to paying rent, and then struggling to save a deposit.

Once you have undertaken and completed your CeMAP training, and the passed the end exam, you will be in a position to meet with potential customers. Part of your role is to establish how much they want to borrow, what size deposit they hold, and what financial commitments they have. After conducting a full affordability assessment, you will be able to advise on the most suitable mortgage package available.

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