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The full implications of Brexit on the UK housing market in the medium-long term remain largely unknown to industry analysts, and although estate agents are reporting a post-referendum downturn in demand, with modest price reductions reported in some regions, the Bank of England\u2019s decision to reduce interest rates has seen some amazing mortgage deals being made available \u2013 which are proving extremely attractive to home owners up and down the land.<\/p>\n
Levels of remortgaging reached the highest level for seven years in August, up 8% on July and an increase of 45% on the same month last year \u2013 and with 5-year fixed rate deals now from 1.89% and certain lenders allowing 5.5 times combined income \u2013 now is certainly the right time to be talking to us\u00a0about a mortgage or re-mortgage deal.<\/p>\n
Finding a solution that\u00a0allows you and your family to take advantage of the current record low deals\u00a0is important, so it may be good to know that we are\u00a0able to secure you a deal six months ahead of your current deal ending \u2013 to ensure that you are protected if rates were to rise in the meantime. That, coupled with a relaxation of interest only rules, means many people who have interest only mortgage can once again shop around for a better deal.<\/p>\n
Also, by having access to the whole lending market, rather than being tied to an individual lender\u2019s products, it allows our clients greater flexibility and incredible choice \u2013 they are often amazed that, in many cases, we are able to arrange a new, lower rate deal, without them having to go through the lengthy re-application process \u2013 which can save a lot of time and administration.<\/p>\n