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Mortgage gloom 'unjustified'?

Jaimie Kanwar

Prospective buyers should ignore the negativity over mortgages, argues one expert...

Adam Champion of New Homes Mortgage Helpline believes there are plenty of good mortgage deals still out there, despite the never-ending stream of negative press stories. He explained: “Much of the doom and gloom we are currently witnessing in the market is unjustified. There are still plenty of excellent mortgage products available, with a full range of options and competitive rates still achievable.

“The message to those on the edge of the market is why rent when you can buy? The more people opt out of buying, the more rental costs will soar. We are already seeing people taking on huge rental bills, which is unnecessary given the funds still available to borrowers in the mortgage market.

“With developers doing all they can to ease the financial burden of purchasing a new home, there are some excellent opportunities to buy and good deals to be had, as long as buyers are sensible about what repayments they can afford to make on a monthly basis.”