Traditionally recent university graduates were offered special mortgage terms – but how times have changed.

Until recently if a graduate remained loyal to his or her student bank, they were promised more generous income multiples, lower interest rates and even help with paying their stamp duty. Today, virtually every special deal has gone.

A few lenders will allow degree holders to have a mortgage with a lesser deposit, say 15% rather than 25%, and sometimes offer them a fraction off the interest rate but it’s nothing to be overjoyed about. In the absence of the old special deals, experts are advising graduates to shop around along with all the other prospective homeowners.

Some experts are advising these first time buyers to take a fixed rate mortgage as the cost of home ownership takes many first timers by surprise and it make the adjustment a little easier if they have at least one household expense set in stone. But graduates how are sure that their incomes will rise steadily and make their mortgages increasingly affordable, may prefer a tracker. Currently, the rate on a tracker is lower than most fixes.

Meanwhile, recent graduates are being warned about fraud. Young professionals in rented accommodation are the main targets for fraudster’s intent on stealing identities. They are being advise to regularly check their credit file to ensure it is clean.