As mortgage approvals drop, house prices fall and inflation hits many would be well within reason to believe that a recession is set to arrive in the UK.
With so much bad news it is easy to look on the negative side, but with every dark cloud comes a silver lining. Many landlords and first time buyers are actually set to benefit from the economic slide. Mortgages are hard to come by but with property prices falling these buyers are more likely to be able to secure a loan. For mortgage brokers first time buyers make up a huge sector of business and the fact that they are now more likely to be able to get a mortgage deal is good news.
Lucy Trueick
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