Even for the most experienced homebuyers, the mortgage application process can be a tricky path to navigate. Whether the industry jargon leaves you tied up in knots or you’re just not sure how to get the best deal out there, you’re not alone in your worries. In fact research has revealed that the process of applying for a mortgage is the biggest challenge when buying a home. *
The good news is that data from UK Finance shows that Scotland is doing well when it comes to mortgages. In fact, Scotland has seen a significant increase in mortgage acquisitions during the second quarter of 2019, outperforming large swathes of the rest of the UK in terms of new homeownership.
An additional £373m has been invested in Scottish mortgages compared to a year ago, and even first timers are getting in on the market boom, as shown by an increase of 3.5% on first time buyer mortgages during the period – the largest increase in 2 years. Homeowners are also seizing the moment to move, with the same stats showing a 4.6% rise in home mover mortgages.**
Savvy homebuyers are pushing through the homeownership anxiety, recognising that there’s no need to go it alone when looking for the best deal on a mortgage. Mortgage advisers are offering a route through the anxieties of homeownership by helping homebuyers find the right mortgage to best suit their needs.
Companies such as Glasgow Mortgage Company and Tru Wealth, who are exhibiting at Homebuyer Show Scotland in Glasgow this October, have access to exclusive mortgage deals that aren’t always available on the wider market, and use their expertise to streamline the application process, making it as smooth and stress free as possible.
Beth Stevenson from The Glasgow Mortgage Company, comments: “It has never been a better time to buy a new home in and around Glasgow, which is why we’re so excited to meet with visitors at Homebuyer Show Scotland. Our goal is to help buyers through the process of securing a mortgage without the stress of doing it by themselves, and so on the day we’ll be explaining to visitors how the process works, and how they can find out the best deal possible.”
Meryn Stewart Tru Wealth adds: “We are starting to see lenders becoming much more competitive with each other, offering better rates and many even offering enhanced cashback incentives for first time buyers. This is really great for those looking to buy their first home as it can often give them a wee bit extra to spend on furniture or decorating once they’re in their home.
“If you’re thinking of taking your first – or next step up the property ladder, I would recommend your first port of call should be to speak with a reputable and qualified mortgage adviser or mortgage broker. They will be able to guide you through the process and be on hand to assist with any questions you might have. A good mortgage broker will have the experience and knowledge to prepare you to make your move with the best possible deal.”
Homebuyer Show Scotland has a range of exhibitors at its upcoming event in Glasgow, including mortgage advisers The Glasgow Mortgage Company and Tru Wealth who will be able to share their knowledge and expertise of the mortgage market with aspiring homebuyers, and de-mystify the mortgage application process.
Homebuyer Show Scotland in Glasgow will take place from 10am-4pm on Saturday 19th October at the Glasgow Royal Concert Hall. To register for free visit here.