FACT: 13 million UK homeowners rely on mortgages to finance the purchase of their house.

We are all well aware that many mortgage lenders have been tightening their belts and restricting the loan of money. This is because banks and building societies have become reluctant to lend to each other. Banks are relying on savings deposits to provide funding for new mortgages, which is why mortgage completions are at their lowest level for nearly ten years.

The net result is that mortgages are now more expensive than they have been for some time and it is becoming increasingly difficult for borrowers to fit the banks' lending criteria, resulting in huge frustrations for many rejected applicants. Lending terms are now at their most restrictive for the past 15 years. No longer can every potential borrower’s needs be satisfied by the terms on offer, and, indeed even if the terms fit a borrowers circumstances, many lenders are finding reasons to reject applications when they arrive unless they fit their lending criteria exactly.

It is in times like these that finding a good mortgage broker becomes increasingly important. Services such as their ability to rescue broken chains, reduce monthly costs and arrange tax efficient lending for those with complex affairs, are appealing to those borrowers faced with the current challenging mortgage climate.

Strutt & Parker’s relationship with established mortgage brokers Chase De Vere is paying dividends and has come into its own at a time when purchasers need the comfort and security of knowing they can raise funds to assist their purchase simply and reliably so that they can bid for properties with confidence.

Anthony Cane of Strutt & Parker’s Mayfair office says ”Chase De Vere are a considerable help to us and our clients in helping to oil the wheels of a property transaction and steer purchasers through the mortgage minefield.

“Deals are happening though; even though the mortgage market may be difficult, nonetheless there is still activity in the housing market. We should beware the danger of talking ourselves into a worse situation than we currently find ourselves.”