Could A Flatmate Mortgage Help You?

First time buyers struggling to find the finance to invest in property could soon take advantage of Flatmate Mortgages according to property website easyroommate.co.uk.

Following figures from the Council of Mortgage Lenders which witnessed 50% fewer mortgages to first time buyers in February compared to the same month in 2007; easyroommate.co.uk are now urging mortgage lenders to offer a Flatmate Mortgage which would take a flatmates income into account when creating a new mortgage.

By doing so, first time buyers would be able to access an additional £11,000 from their mortgage which would enable them to invest in bigger and better properties, and more readily climb onto the property investment ladder.

And examining the number of recent mortgage approvals, the interest is definitely there…

Continuing in their report, the Council of Mortgage Lenders revealed that the number of loans advanced for property purchases rose by 12% in January, of which 12,600 consisted of first time buyers!

With such evident determination to get onto the property market, a Flatmate Mortgage could easily relieve the pressure. Hopefully mortgage lenders will take up this call…

Original Article

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Fraser Stirling, Property Mentor Delegate

No matter what the media wants you to believe, property is still the only investment route where you can benefit from an asset that will NEVER go into zero value. Even when I was university I admired properties ability to withstand the economic elements and stay strong, even when other investment forms faltered or failed. X years on, I am now the proud owner of multiple property investments - one of which earns a passive income of £4,680 and my property portfolio is still expanding. Read more