We have seen a range of options offered to provide stimulus for the first-time buyer market. The Government's Firstbuy scheme and stamp duty tax breaks have obviously helped some first-time buyers to move onto the property ladder. However, the benefits these policies afford are not broad enough to address all the problems that first-time buyers encounter when trying to buy their first home. Clearly more new housing units are required. Whilst there have been positive indications around increasing the number of units, the scale of the gap between those being built and those required to meet demand is still vast. Proposals such as releasing green belt land for housing development are controversial and are unlikely to produce any quick solutions. Finding the right type of mortgage is more crucial than ever. This is where first-time buyers can really benefit from obtaining good mortgage advice from an intermediary who has access to a wide range of available mortgage products. Too often first-time buyers are of the opinion that they cannot get a mortgage without having a substantial deposit. This may be the case for some lenders, such as those on the high street, but it is not the case across the whole of the market. A good mortgage broker will provide the opportunity to consider the fullest range of products available on the market. It is only brokers who can direct potential buyers on how to get their credit score in order. Today's world where a lower deposit means a higher credit score, means consumers need to be taught what they have to do to pass. Building a pipeline of potential customers working towards credit-worthiness will provide a better tomorrow for all. The supply of new housing continues to fail to meet demand. Government's schemes and tax breaks can only go so far to address first-time buyer issues. It is more important than ever that those struggling to get a property visit a mortgage broker to investigate all their finance options before drawing any conclusions about their ability to purchase their own home. Monthly news round-up 
AMI announces departure of Policy Director
The Director General of AMI, Stephen Gay, announces that Andrew Strange, Policy Director of AMI, is to leave the organisation... read more Forthcoming events 
Mortgage Business Expo 2010 delivered access to lenders, over 85 key suppliers and unique funding solutions which can be applied to exhibitor clients... read more For more information and to keep updated with the latest AMI events, log onto our events section.  This information has been prepared for the members and contacts of the Association of Mortgage Intermediaries. The information and options expressed in this document are not necessarily comprehensive and do not purport to give professional advice. If you would like specific information or assistance please call your usual contact at AMI. The information contained in this email is intended only for the individual or entity to whom it is addressed. It may contain privileged and confidential information and if you are not an intended recipient you must not copy, distribute or take any action in reliance on it. If you have received this email in error, please notify us immediately by telephone on 020 7628 1287. www.a-m-i.org.uk is a site operated by the Association of Independent Financial Advisers("We", "us" or "our"). AIFA and the Association of Independent Financial Advisers, a company limited by guaranteed, registered in England and Wales under Companies Acts with number 3779289. Our registered office is 100 Fetter Lane, London, EC4N 1BN. Our main trading address is Austin Friars House, 2-6 Austin Friars, London EC2N 2HD. Also, www.aifa.net and and www.theafb.net are site's operated by Association of Independent Financial Advisers (AIFA) and Association of Finance Brokers (AFB) and are trading names of the Association of Independent Financial Advisers. |
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