Bluestone Mortgages comments on today’s statistics from HMRC

Steve Seal, the Director of Sales and Marketing at Bluestone Mortgages, comments on the statistics published today by HMRC.

“Today’s figures show the sluggish nature of property transactions. Monthly peaks and troughs fail to disguise the lack of housing, rendering the market inaccessible to some aspiring homeowners.

“While house prices are rising at a more steady rate – the rising cost of living is preventing many borrowers from saving for both a deposit and funds for a rainy day. It’s usually either/or, and the majority struggle to save for the latter. As a result, many see their credit history suffer should an unexpected illness, bill or payment occur.

“However, a few missed payments should not be a reason for these borrowers to be blocked from home ownership. As an industry, we need to ensure these borrowers are provided with the support they need in navigating their way through life’s challenges and still achieving their homeownership ambitions.”

Kindly shared by Bluestone Mortgages