The newest figures to have been released via the Office of National Statistics reveal that the prices of UK houses are continuing to increase.
An annual increase of just under 10% was recorded up until March 2015.
Frances O’Grady who is the Trades Union Congress’ general secretary, highlighted the concern over strong growth in house prices.
“House prices are going up four times faster than people’s wages. No wonder mortgage approvals are falling and first-time buyers are struggling to save a large enough deposit.”
She added that it was felt that the government did not understand how big the challenge was with regards to being able to put an end to the current housing crisis.
Marsh & Parsons’ CEO, Peter Rollings, highlighted that the latest figures were concentrated on the month of March, and explained:
“The country was still convinced that we had a close-run election on our hands and vendors and buyers in London were holding their breath about what impact mansion tax and other possible policies might have.”
As a mortgage advisor who has undertaken the required CeMAP training and ultimately passed the end exam, you will be qualified to meet with customers and assess affordability before advising how much they may be able to borrow, and establish if that is sufficient to purchase their dream home. You can then advise the most appropriate solution, and deliver your recommendation in an open and honest fashion.