Latest house prices stats major challenge for newly qualified dentists

The Office for National Statistics (ONS) has revealed UK house price annual inflation has reached 9.9 per cent. The latest figures, released on 17^th June, also reveal that the rate of the increase to UK house prices is escalating month on month.

These are worrying times for all first-time buyers but particularly for dentists who qualify this year. They now need to find on average £196,000 to buy their first home, have the probability of an interest rate rise soon, are subject to a recent tightening of mortgage lending criteria, will already be burdened with student debt and, what's more, are not looked upon favourably by most high street mortgage lenders.

Natalie Williams, a specialist mortgage adviser with PFM Dental says: “Many dentists are leaving university with significant levels of student debt and at the same time are facing an increasingly challenging housing and mortgage market. All the indicators point to securing a house purchase as soon as possible. Most high street mortgage lenders won’t lend to self-employed dentists within three years of their leaving university so it is essential they get specialist mortgage advice in order to secure the necessary loans.”

Your home may be repossessed if you do not keep up with payments on a loan secured against it.

For more information contact pfmdental on 0845 241 4480 or visit www.pfmdental.co.uk