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It is fantastic that so many women today are buying and owning their own homes - independantly and without needing that old prerequisite of a ‘co-signer’. The co-signer/guarantor always had to be a man in the form of your father or husband. But thank god times have changed.

When you have decided to apply for a mortgage and buy your property you will know that the most important thing to do is to shop around and compare. Hopefully you will already have a good relationship with your bank, you will be aware of what deals they are offering with regards to mortgages and you will have established a regular savings pattern. Dont underestimate the services of a mortgage broker though; a good professional firm will be able to do that exhausting research for you and present to you a range of options tailored to suit you and your budget. You remain in control of the process and informed. What you need to avoid, though, are those brokers who have been offering easy-to-get mortgages for amounts that are really way too large for you to afford paying in the long term. Such brokers are currently being investigated by the Financial Services Authority in the UK, and about time too.

The FSA have started a massive crackdown on unscrupulous brokers offering mortgage deals that are ‘too good to be true’ to members of the public anxious to get a foot on the property ladder. Their practices include waiving aside proof of income and failing to carry out the required credit checks. While you can understand how tempting it is to those who desperately wish to buy their own home to accept these loans, it is the fact that these same people tend to be low income earners, welfare recipients and first home buyers. These are the people who have been extended mortgages of astronomical amounts that they could never possibly afford to repay. Of course, personal responsibility comes into it but the FSA wants to target those brokers who are taking advantage of these people.

Don’t knowingly be one of them; it is far better to go through all those hassles of producing all that usual paperwork and looking beyond doing it the ‘easy’ way. Getting a mortgage and buying your home is not mean’t to be hassle free and smoothsailing, but using the services of your bank or a reputable mortgage broker who offer you a range of options will make it all worthwhile when you eventually open the door to your new home further down the line.

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