The latest figures from Nationwide Building Society show that out of all of the homes sold in the first three months of 2015, just under 40% of them were sold to cash buyers. This was thanks in part to the continued low rates that we have been experiencing.

May also saw an almost 5% increase in property prices since the same time last year, although this was down on the annual increase of 5.2% that had been recorded during April.

The increase in cash buyers is down to a number of influencing factors. In particular, older homeowners are often downsizing, and if they already own their current property outright, have no need to apply for a mortgage when they move.

It is not yet clear whether recent changes to pensions legislation (where people can cash in their pensions at an earlier age) has had any impact on the volume of cash buyers, but with a high number of mortgage applicants being first-time buyers, it is not likely to be this category of buyer who has the cash to buy outright.

While the number of cash buyers has continued to increase since 2008, it is still not at the peak that was witnessed in 2007 prior to the recession.

Having finished your CeMAP training and become a qualified mortgage adviser, you will be in a position to meet customers and complete a full assessment of what they can afford, before recommending how much they can borrow and the most appropriate mortgage solution.

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