This is a question that we ask whenever we want to buy a house. Unless we’re fortunate enough to have a large amount of money we can draw on, sometimes, as discussed on this site it’s not that easy to get a mortgage.
Getting our first mortgage is for some, the most difficult as once people have a foot on the property ladder, their house gives them some form of collateral which banks and building societies can use as an asset.
I discovered this blog post (http://frankcanon.blogbaker.com/2016/11/08/advisor-in-manchester) when writing this article which mentions a mortgage company who operate in throughout Greater Manchester. This is the type of company I wish I’d have known about when I was looking for my first mortgage. Turned down by most of the high street, I eventually found a building society that were willing to lend me the money I needed for my first house.
Getting my first mortgage was harder than I thought! – I had a very good job which was well paid and secure. Perhaps the only thing against me was I was fresh out of higher education and had no track record. Also I’d gone into debt as a student but who hasn’t these days?
So to answer my question, I think it’s often more difficult to get a mortgage than you’d think. After all, I was in a very good position (or so I thought) and still it was difficult for me to get a mortgage.
The lesson? shop around, often the best mortgage deals are not available on the high street but are to be found through mortgage brokers.