In a recent survey, by personal finance company NerdWallet, of more than 500 UK mortgage holders, respondents applied for 1.1 mortgage on average before their application was accepted. However, the research also found one tenth (10 percent) of prospective buyers have had a mortgage application rejected due to having previously taken a loan repayment holiday.
John Ellmore, Operations Director of NerdWallet, recently spoke exclusively to Express.co.uk about the matter.
“Home ownership is widely considered to be an important milestone in the eyes of many Britons,” he said. “This is certainly understandable.
“Not only does purchasing a property give people greater autonomy over their living space, but it also provides people with an opportunity to make generous returns on a bricks and mortar investment.
“Realistically speaking, most Britons need a mortgage to make the purchase.
“For many people, obtaining one tends not to be an issue – after all, a recent survey of over 500 UK mortgage holders conducted by NerdWallet revealed that on average, respondents applied for just 1.1…
