Due to the worst credit crisis in most peoples memory, the mortgage market in the past year has been affected dramatically with a massive drop in lenders and lending sources, with particular heavy affects to the first time buyer market , much bigger deposits are now required as 100% and 95% schemes have become extinct. However new shared equity schemes are being made available to help out with your first house if your not  in a position to have a good deposit.

Despite the internet being awash with mortgage products and information, its probably never been more important to obtain independent advise. Many a time your best friend , a person in the local pub, the postman etc will tell you about the deal they have and that it will be good for you, but remember they aren’t paying your mortgage, you  are, so in the end you must make your own decision once you have had a chance to view the recommendations made.

Lenders themselves do have their own advisers who are very capable of offering good advise but are obviously limited to their own companies products. On some occasions, they do have direct offers which can only be made available through the branch but this is also the case with independent advisers as they are also in a position to offer an exclusive product not available through other channels.

Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up payments on your mortgage.