LOCAL homebuilder Barratt Homes in Gloucestershire is reminding potential homebuyers that following the EU referendum it is still a really good time to get a mortgage and to jump on the housing ladder.

With mortgage rates at record lows and a wealth of mortgages available, now is one of the best times for many years for people looking to secure a mortgage at a great rate.

Head of mortgage lending at Barratt Developments, Adrian MacDiarmid, said: “The banks and lenders are offering some really attractive deals at the moment. Many of our customers were not initially sure if they could get a mortgage or not, but we were able to help them so that they could buy their new home. We recommend you come in and speak to us and we will refer you to a specialist mortgage adviser who can show you just how affordable a new home can be.

“There are some simple things that all potential homebuyers should think about when looking to get a mortgage. We encourage everyone to look at these tips to help them secure a great deal on a mortgage.”

Mortgage tips:

1. Speak to a mortgage adviser

They will be able to practically demonstrate how you might be able to afford a mortgage because of the record low interest rates.

Sarah Davidson on thisismoney.co.uk said: “The EU referendum will keep interest rates lower for longer so lenders may go to war on mortgage rates.”

Barratt Homes has a network of mortgage advisers who are specialists in new homes and will help you get the best deal that is right for you.

2. Look at all the options

Many more lenders have entered the mortgage market since the last recession, from banks such as TSB or Virgin Money to specialist lenders such as Aldermore or Precise Mortgages.

The high street banks are still extremely popular too, so you have lots of options from which to choose.

3. Pick a great deal – there are fantastic mortgages available

There are some great deals to be had, both fixed-rate and variable.

One of the very lowest is HSBC’s 0.99 per cent deal, however, this does require a relatively large deposit of 35 per cent.

Buyers with a 25 per cent deposit can still benefit from the very low rates – for example the Post Office is offering a 2 year fixed rate mortgage at just 1.33 per cent.

It is even possible to get a 10 year fixed rate mortgage, giving you security and peace of mind for a decade whilst rates are low.

First time buyers can also get some fantastic deals, with Santander offering a two year fixed rate mortgage at 1.74 per cent with a 15 per cent deposit.

For those with just a five per cent deposit there is the government’s extremely popular Help to Buy scheme,which enables both first time buyers and existing owners to buy a new home up to £600,000.

The government lends the buyer 20 per cent of the value of the property in the form of an equity loan which is interest free for the first five years, meaning they can benefit from the great mortgage rates available with a 75 per cent mortgage.

Be aware though that each product will have varying fees and criteria, so it is always best to take expert advice to give you the best mortgage deal.

4. Don’t give up if you have a poor credit history

Many people think that because they have a poor credit history they won’t be able to get a mortgage.

However, the lending environment has changed a lot over the last few years.

Many people who have missed the odd payment to a credit card or loan may still be able to qualify for a mortgage.

Being self-employed is also not the barrier it once was to getting a mortgage.

If you are self-employed you may only need to show one year’s set of accounts to potentially qualify for a mortgage.

5. Check your credit score

Last year Barratt Homes found out that 70 per cent of people did not know their own credit score.

Yet it is so simple to do now through a variety of websites that check your history.

For instance, click on noddle.co.uk and you can find out your credit score in a matter of minutes.

Also, look at making changes to improve your score.

For instance, try not to get too close to your credit limit or use overdrafts, as lenders may view this as excessive debt.

Look to build up a credit history too, by paying off your credit card in full each month.

6. Keep saving

If you can show that you save regular amounts and you are actively trying to build up a deposit for a home, lenders will take notice of this.

While it can seem hard at the start, over time it will get easier.

Also consider government saving schemes such as the Help to Buy ISA, which can boost your savings by up to £3,000.

Andrea Pilgrim, sales director for Barratt Homes, said, “In a post referendum world it looks as though interest rates will remain low for a while. This means for some people it is a great time to look at getting a mortgage. There are some fantastic new developments being built and more people than ever can look at potentially buying their own new home.”

On the Barratt Homes website there is lots more information on mortgages and why now is a great time to buy a home - .barratthomes.co.uk/Why-buy-new/great-time-to-buy/