Graduate Mortgages - Can anyone explain?

save_more_spend_less

Hi

I graduated 4 years ago this summer. I would like to buy my first property and have heard about Graduate Mortgages how do they work? Are they a good idea and which bank/building society offers the best service.

Also, is there anyone I can speak to or a site I can visit to get more infornmation/advice.

Any help and advice that anyone can offer on this subject would be of great help.


Thanks.

herbiesjp

Hi there and welcome to the board

In reality graduate mortgages work in exactly the same way as other mortgages - no different.

Some graduate mortgages however offer higher income multiples than some standard deals. However income multiples have changed a lot as have affordability calculators that many lenders use.

So in reality you could be better off looking at a standard deal as opposed to looking specifically for a graduate deal.

What kind of figures are you looking at?

HTH