The government introduced a mortgage scheme earlier this year aimed at helping first time buyers and current homeowners secure a mortgage with a five per cent deposit.
First announced at the Budget, the scheme hopes to support individuals purchase properties worth up to to £600,000 in an attempt to make home ownership more affordable.
As part of the scheme, the government will guarantee the mortgages to entice lenders, with Lloyds, Santander, Barclays, HSBC Virgin Money and NatWest all launching mortgages under the scheme.
The government pledged to build 300,000 new homes year in 2019, with statistics stating that more homes were delivered in 2020 than in any year since 1987.
Since 2010, more than 687,000 households have been helped into home ownership through government schemes.
Around 69 per cent of private renters and 63 per cent of those living at home said that finding a property with a low deposit had been a challenge.
Established in 2014, ORM Accounting Services is a medium-sized accountancy firm based in Heathrow which offers mortgages based on the contract rate of the customer.
Having teamed up with specialist contractor mortgage broker Contractor Mortgages Made Easy , ORM works to offer bespoke underwriting with many high street lenders allowing contractors to borrow based on their full contract earnings.
"We are low-fee yet provide a quick turnaround, which means that we are able to offer a high quality of service for a far reduced price compared with that of our competitors," founder Venu Nair told The Parliamentary Review.
"We believe that we are able to generate this good service through a strong work ethic. I always ensure I am responsive to the needs of my clients, taking calls in the morning and late at night if the need presents itself. I pride myself on being available any day of the week, and any time of the day to ensure I can provide the very best possible service for my clients."
