According to figures released by the Bank of England, mortgage companies have tightened their lending criteria in recent weeks, which has led to a reduction in approval rates and fewer loans being offered.
House prices have grown 5.8% in the year to February according to the Office for National Statistics; however, the market seems to be ‘stagnating’ with fewer properties available and interest falling during March.
Here at The Financial Planning Group we pride ourselves on providing our clients with independent mortgage advice – and with access to lenders and products across the whole market – we are able to offer far greater flexibility than high street banks.
Mortgage rates remain at historically low levels, and those looking to take out a mortgage or remortgage are in a strong position to secure loans to value deals of up to 95% and medium term fixed-rate deals from 2.69%, which could prove a very attractive proposition for many families.
If you would like to speak about your mortgage or re-mortgage, and secure one of the record low deals that are currently available, please feel call Steve Padgham on 020 8614 4782 or email Steve.Padgham@fpgonline.co.uk