When could a non-bankrupt person be considered bankrupt? When they’re buying a house.

Guarantor lenders are always keen to point out that you don’t need a credit report check to get their loan, just a friend or family member who has a good credit history and is able to act as a guarantor. For those with a poor credit rating, this type of loan provides a solution to a problem – they can afford the loan repayments but are unable to get credit due to prior adverse credit history.

There have been plenty of reasons to get people thinking about making that first leap onto the property ladder in recent months, including Help to Buy schemes, the recent removal of stamp duty charges for about 95% of first time buyers and an increase in affordable houses being built.

A lot of customers come to checkmyfile because they are planning on applying for a mortgage – your credit report is, after all, the best place to start is it’s helpful on more than one occasion . But often the question is often asked: “what credit score will get me the mortgage I need for my dream home?”

Homeownership among 25 year olds has more than halved in the last 20 years, according to a survey conducted for the Local Government Association (LGA). The study carried out by Savilles the estate agents found that only 20% of 25 year olds now own a home of their own, compared to 46% in 1996.

While housing prices have displayed a consistent rise over the past several years, according to a recent study conducted by Halifax, the total value of privately owned housing in the UK has exceeded £5.5 trillion for the first time.

In recent decades, the “bank of mum and dad” has increasingly become a cardinal resource for their offspring achieving independence and for first-time buyers attaining a foot on that all-important first rung of the property ladder.

In the last few years we have not only seen some historically low mortgage rates, but also a rush to make property investments. Now the tide may finally be turning, as lenders begin to increase their lowest mortgage rates, and buy-to-let figures drop in the wake of new regulations.

The cost of obtaining a mortgage could be in reach for first-time buyers, as rates drop to a record low.

House Prices shot up in October, showing a monthly increase of 1.4%. This is according to Halifax’s house price index, which showed its largest monthly rise since March. The growth was well up on the 0.3% recorded by Halifax in September and is in contrast to the signs of a slowing housing market recorded in its index over the last 6 months.