Dinesh Shonchhatra of Major Estate Financial Services is an independent mortgage adviser based at 77 High Street, Wealdstone.

He is directly authorised by the FSA to provide mortgage advice and has to his credit three significant industry qualifications of CEMAP, MAQ and FPC.

He has successfully completed 20 years in the mortgage industry, enjoying his work and helping clients achieve their goals at all levels in all circumstances.

During his time he has won the Mortgage Champions Award from Mortgage Power Network and also best broker award England South 2005 by Mortgage Times Group.

He has experienced many twists and turns over the last 20 years seeing the interest rate reach as high as 16 per cent. Can you imagine if the interest rate was 16 per cent? How may people could afford to pay their mortgages now? There were no buy to let mortgages and limited self cert. lenders. It was difficult to get mortgages as you had typical building societies who would only lend you three times your income.

The market completely changed when lots of lenders entered the market over the past ten years. We had buy to let mortgages when a lender was happy to lend one client up to 20 mortgages and there were schemes called ten to let where you could borrow mortgages for ten properties from one lender.

There were also self cert. non status lenders and 100 per cent lending was available. Some lenders used to have schemes called together mortgage where they used to lend 125 per cent of the house value.

There was also a lot of sub prime lending with high interest rates, thus inviting the financial crisis.

Now all above has gone and you will need a minimum of ten per cent deposit for residence and 25 per cent for buy to let before you start thinking about a mortgage. Also the introduction of the internet and dual pricing has had an effect. There is a shortage of properties and there is the introduction of HIPS.

Mortgages are still available based on affordability and there are lots of good lenders around who use a principle of responsible lending.

We also advise clients who take out a mortgage now that it is very important for you to have adequate life cover to protect your mortgage and they should take out accident sickness and unemployment policy. This ensures that if they loose their jobs the mortgage payments are made.

There are still mortgages available for those who really need it. We provide, from the whole of the market, independent mortgage advice and relevant services. Please call us on 020 8424 8686 without any obligation.