What Are Flatmate Mortgages?
First time buyers struggling to find the deposits or the cash flow to invest in property could soon be able to access Flatmate Mortgages, according to property website easyroommate.co.uk.
In their report, the Council of Mortgage Lenders revealed that 50% fewer mortgages were approved to first time buyers last month compared to February 2007. As a result, easyroommate.co.uk are now calling upon all mortgage lenders to introduce new Flatmate Mortgages which will enable first time buyers to take their flatmates income into account when applying for a new mortgage.
By doing so, these type of mortgages will also enable first time buyers to access an additional £11,000 from their loans which will make investing in property easy, more accessible and more importantly more affordable…
And it is impossible to ignore the demand for property investments.
According to the Council of Mortgage Lenders the number of mortgage loans advanced for property purchases in January rose by 12% – 12,600 of which consisted of applications from first time buyers!
With such growing interest in the property market, the need for Flatmate Mortgages is becoming more essential than ever…
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Tags: first time buyers, investing in property, property investment, property market, property website
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