Deal Direct help more first-time buyers to get a best deals mortgage in 2012.

Experts warn that first-time buyers may struggle to get themselves a best deals mortgage in 2012. This warning comes despite the fact lenders have promised to increase the number of cheap deals available in the first-time buyer sector.

It is estimated that roughly half of all first-time buyers who have a 10 per cent deposit, are in fact refused a loan. This illustrates that while lenders are keeping to their word by offering more first-time products, a successful application may be difficult to achieve.

This is where mortgage brokers such as Deal Direct are worth their weight in gold, we are always up to date on mortgage providers lending criteria and latest rates. We can advise on how you can maximise your chances to be accepted for a deal.

Currently there are around 332 best deals mortgage products for those with a 10 per cent deposit which compares favourably with the 199 offered last year.

High street lenders trying to lure borrowers include the Halifax, who are offering fee-free mortgages with £500 cashback and the Nationwide who have knocked £500 off their fees, and are offering 95 per cent LTV deals to borrowers who have saved with the building society for at least six months.

Lenders are offering more low-deposit mortgages however while lenders are offering new deals they are also tightening their criteria.

First-time buyers are therefore recommended to approach Deal Direct who are best placed to navigate the market and find the most competitive best deals mortgage product available.

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