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Engineering Skills Shortage on the cards, says industry voice

May 7th, 2014

Recent news from industry group ‘Engineering the Future’ has suggested that there could soon be a real skills shortage in the manufacturing field, as many of the nation’s engineers approach retirement age.

The group say that the problem is only made worse by an inaccurate perception amongst young people that engineering represents an unsecure and badly paid career choice. Engineering the Future, which has a membership approaching half a million people, produced a recent report, ‘An Insight into Modern Manufacturing’, which calls on the government to take action quickly, as many within the industry with more than 30-years’ worth of experience will reach retirement age in the coming 5yrs.

That suggestion has already received backing from Andrew Jones MP, Apprenticeship Ambassador in parliament.

“Engineering is a key skill for our future prosperity” he said. “That is why it is important that young people have all the facts at their fingertips so that they can make an informed decision about a career in engineering “

With recent news that 1.4 million people in the UK are employed on zero-hours contracts, there is a worry from some that the dream of home ownership is drifting further away, particularly in high-demand oil & gas engineering strongholds such as Aberdeen.

“Many clients have expressed concern recently that there is something of a ‘now or never’ situation when it comes to home-ownership” says Taj Kang, Business Development Director at Contractor Mortgages Made Easy.

“With recent regulatory changes to the mortgage market, now more than ever, it is more difficult to obtain mortgage funding on this basis.”

Worry not though, as thanks to a unique pre-underwriting process, a specialist broker can navigate around these problems, explains Taj.

“Thanks to our in-depth initial research here at Contractor Mortgages Made Easy, we are able to get direct feedback from contractor-friendly lenders. We’ve also been working to the new MMR guidelines for a long time, meaning that the speed and more importantly quality of our service has been unaffected.”

“This means that you need not worry about missing the boat for home ownership, and you can realise the real borrowing potential of a lucrative industry.”

Article By:Mark McBurney, Senior Mortgage Consultant at Contractor Mortgages Made Easy

Media Contact: Raman Kaur, Public Relations Manager

Tel: 01489 555 080

Email: media@contractormortgagesuk.com

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