Rising challenges to buying a home, according to BSA survey

More would be home-buyers are becoming increasingly worried about raising a deposit to buy a home, according to the Building Societies Association (BSA). Their research shows that 63% of people say raising a deposit is the biggest barrier to getting on the property ladder. The impact of the impending changes to the lending rules, introduced under the FCA's Mortgage Market Review, is likely to affect around a million home-buyers this year. Commenting on the BSA's findings, head of mortgage policy Paul Broadhead said: “There are a number of reasons why the perceived challenges to buying a property have risen. Firstly, the new lending rules, known as the Mortgage Market Review, will soon be introduced. The process of getting a mortgage is changing, but borrowers should not be put off by the new regime.” If you would like help to secure a best buy mortgage, call us on 020 7016 0790. April 3, 2014