Home loan lenders selling tips Biggest hurdle in getting borrowers for UK home loans as the market is flooded with houses and houses everywhere, people are not so keen on taking home loans paying off in dollars. People are hesitating to buy new homes and with few exceptions where money does not matter anyway the elite investors in property purchase flats for investment purposes, and need to divert their finance and what better way than in housing sector as this field has assured and guaranteed returns.
Majority of people applying for home loans in UK are from the private sector and they may not have all the documents in place which leads them to search for those lenders who can offer them loans.
It would be better if the lenders would simplify their loan procedures and also ease out the formalities to minimum. As it is every one understands the fact that you will get a loan only when you are eligible for that, which means you have the repayment capacity. Still when you discuss of home loans this topic is not universally acceptable and many people, have the picture of so much high interest in dollars and formalities and time taken in UK for approval of a home loan. Quick easy approval.
Reduce Down Payment since this is the major hurdle for any home buyer and money is precious in the UK. It is a common fact that homes are costlier and out of reach for many working people but the fact remains that people have the repayment capacity, they just can’t collect a large amount at a time. EMIs are fine but the first payment being large amounting to 20% of the total home coat is difficult for many and if these people find a way here suddenly there will be a major growth spurt in the housing finance sector.
Advertise for targeted audience only for some time and see the difference. Would it not be nice to advertise for majority of the public, make home s affordable for most of the targeted audience , say working category, womens home loans or extra benefits for home bank employees.