The last year or so has delivered some fairly seismic changes to the normal order of things.
In the midst of all this, however, there continues to be some excellent mortgage deals on offer, should you be looking to:
- get onto the property ladder.
- move to a new home.
- raise some extra funds to undertake renovations to your existing property.
- secure a better interest rate on your mortgage deal.
- expand or get into the buy-to-let arena.
But let’s not kid ourselves that decisions are being taken in a normal market environment. Not when we’ve seen Brexit occurring, a Trump Presidency, elections coming up in France and Germany, and a more emboldened Russia. Additionally, the Pound has fluctuated, and UK inflation is on an upward cycle.
This has, and will continue to have an impact on the financial markets and may
also affect the property sector, where annual UK house price growth (albeit with regional variations) ended up at 4.5% for 2016, the same as 2015 – with around 2% projected for 2017. (Source: Nationwide House Price Index, Dec. 2016)
The way forward
While none of us really knows how it will all pan out, we – as professional financial advisers – operate daily within the mortgage and protection marketplace; so are well placed to have an excellent insight into what may be the best way forward to help meet your own particular needs.
It makes sense, of course, to suggest a degree of caution – and that is why professional advice is important. However, it’s also worth noting that much has been done by the government and the Bank of England (BoE) in recent times to help ensure the country is in a better position to sustain any future shocks to the economy.
BoE initiatives such as the drop in the Bank Rate, £435bn of Quantitive Easing, and the Term Funding Scheme, may help to keep down the costs for those that have, or are seeking to take advantage of the current deals for mortgage loans.
At the same time, we’ll understandably be keeping a close eye on how the Brexit process will develop and any impact it may have on your borrowing options.
Support for YOU
Of course, we are aware that you may have time-pressed lives, so we can hold your hand throughout the whole process, and liaise with the various parties along the way.
In addition to your borrowing needs, we can also discuss specific insurance products, that may help protect you (and your family). So please do get in touch.
And reassuringly, in a 2016 report, 81.7% of mortgages now go through intermediaries (such as us), a sizeable jump against 56.3% back in 2014 – a pleasing endorsement. (Source: IRESS, Mortgage Efficiency Survey, October 2016)
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if your do not keep up repayments on your mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured against it. Conveyancing and in general Buy-to-let mortgages are not regulated by the Financial Conduct Authority.
Our broker fee is £395, payable should you ask us to arrange your mortgage, payable on application. This fee will be fully refunded if the mortgage application is declined and we are not able to source a suitable alternative lender.