With continuing turmoil in the mortgage market, and uncertainty about the interest rates, 2008 may be a worrying year for homeowners with an existing mortgage.

The More Group are pleased to offer a free mortgage health check to any borrowers who are worried about how the current mortgage market is going to affect their mortgage. We’ll look into your existing deal, your current circumstances, which deals are available, and offer advice on how to make the most of your finances.

If the best advice is to stick with your current deal, we’ll advise you to stay - and hope you consider TMG when it is more beneficial to remortgage.

To speak to one of our experts - at no cost, and with no obligation - complete one of our online forms by clicking here. One of our mortgage brokers will give you a call at a convenient time to suit you, and will discuss what options are available.

Alternatively, you can send an email to hello@themoregroup.co.uk to get the ball rolling.

Throughout last year many first time borrowers found themselves unable to afford to get on the property ladder - however, due to the housing market showing signs of slowing down, owning a property in 2008 is becoming more realistic for many.

The momentum in rising house prices in 2007 meant that borrowers found it increasingly difficult to afford a property, with first time buyers who did arrange funding having to borrow a record breaking 3.39 times their income. However, according to research from the Council of Mortgage Lenders, in November this figured dropped to 3.33 - resulting from falling property growth due to the impact of higher interest rates.

It is expected that the rise in property prices will slow down even more in the upcoming year, with many experts predicting them to be flat.

Many financial experts are expecting that ‘08 is the year that Britain heads into a recession - and following on from the recent credit crunch many are expecting for the next 12 months to be tough. In particular the sub-prime mortgage market is struggling, with some specialist brokers closing as a result.

However while some sectors may continue to suffer, there will be others who use the next 12 months to their advantage. The ongoing decrease in property prices will mean that it will be an easier year than 2007 for First Time Buyers to get on the property ladder. In December for the second consecutive month property prices dropped, with many experts expecting this trend to continue throughout the year. With 2007 seeing the average house price ‘peak’, many potential homeowners found themselves unable to afford a property - the number of First Time Buyers purchasing a home was at the lowest it has been since 1980.

Aside from a decrease in property prices, interest rates are also predicted to fall in 2008 - allowing FTBs to afford a property. However, lending criteria will continue to be strict following on from the credit crunch.