The housing market is currently quite buoyant which may make it difficult to obtain a mortgage if someone is trying to get on the property ladder for the first time.
Last week, the Bank of England reported that the number of mortgage approvals increased to 47,557 in March compared to 46,708 in February.
Ed Stansfield, chief property economist at Capital Economics, said: "Mortgage approvals dropped off at the end of last year and have subsequently recovered that dip, but they are at exceptionally low levels.
"The evidence that access to finance is easing is still extremely patchy and not at all compelling."
On the other hand, the Royal Institute of Charted Surveyors (RICS) revealed that sellers are returning the market.
In its April 2011 UK Housing Survey, which was released yesterday (May 10th), it was found that 27 per cent of RICS members saw a four per cent increase in the number of people putting their homes on the market in April.
This suggests that Brits are starting to gain confidence that their property will now sell, meaning there is a demand from buyers.
Those wanting to apply for a mortgage that are unsure about which type of mortgage is best for them may want to use a price comparison site, such as MoneyExpert.com, to find out more information.
The website lists the advantages and drawbacks of each mortgage, including fixed-rate and variable, while giving information about how to apply for a mortgage.
Recent research by Santander Mortgages revealed that 23 per cent of first-time buyers have to save for five years in order to raise a deposit.
Another 28 per cent take a second job or work overtime to be able to raise a deposit faster.