It has been reported by Barratt Developments that it has seen an increase in sales across the UK, while the number of first-time buyers securing a mortgage has dropped by around 11%.
The second half of 2014 saw Barratt Developments complete on 6,971 properties, which was a 12.5% increase on the previous year. The average selling price of the properties was up 8.4% at £229,000.
The dip in first-time buyers was reported by the Council of Mortgage Lenders (CML), fuelling people’s concerns that there was a slowing within the housing market. The new tighter lending criteria, implemented following the Mortgage https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpget Review of March 2014, has impacted in that some people now find it harder to get approved for a mortgage.
The director general of the CML, Paul Smee, has said that the organisation expects lending to increase over the next two consecutive years, and is quoted as saying:
“This reflects our belief that there are more stable conditions in the market than a year ago.”
This is positive news when you work in the mortgage industry. Having undertaken the relevant CeMAP training and gained a pass result in the end exam, an increase in lending means an increase in customers when you secure a job as a mortgage advisor. You will generally be the first point of contact for people looking move house or buy their first property.
As a qualified advisor, you will be able to fact find and establish what they are looking to do. Working in line with regulation set by the Financial Conduct Authority (FCA), you can put together a package that is suitable to their specific needs.