Graduates can get a mortgage

Posted: 20 Dec 2007 11:09:43 GMT


            Property News - Graduates can get a mortgage

Mortgage lenders are not being put off from lending to professionals and graduates, even if they have bad credit.

Mortgage lenders are not being put off from lending to professionals and graduates, even if they have bad credit.

According to FirstRungNow, the global credit crunch has forced many lenders to be more cautious but graduates are considered to be less risky than other borrowers.

It means that people who racked up a lot of debt while at university are still able to get a mortgage because lenders are confident that the money will be paid back.

"The lenders aren't necessarily put off by people being credit averse or being in debt despite the market conditions, because with a professional or graduate mortgage they can hope those debts will be paid off," said Helen Adams, director of FirstRungNow.

"The lenders take a holistic view about earning versus debts and look at the whole picture, and they won’t lend unless they think that the risk is reasonable to them," she added.

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