Monday, September 25th, 2023
Recent weeks have seen a slow-down and eventually a turnaround in the constant rate rises and product withdrawals experienced in previous months, to the extent that the number of mortgage products available had doubled in the space of 12 months*
This improvement in product choice will be welcome news to those looking to remortgage or purchase, as will the recent trend of rate reductions by many lenders.
Given inflation has started to slow, there has been some more positive ‘pay growth data’ and a reduction in ‘swap rates’ has been seen, some mortgage industry experts and commentators believe that the base rate may have reached its peak. However, as the balance of the various components that influence mortgage rates remains precarious, small changes in any one of them could reverse this.
It is no wonder then that with the mortgage and housing markets as they are, many prospective home buyers and home movers may be “sitting and waiting,” for a more prolonged period of positivity/increased level of confidence before committing themselves.
With the recent adverse changes to mortgage criteria and rates, some at noticeably short notice, many considering a mortgage for either a house purchase or to remortgage an existing property have engaged the services of a specialist mortgage broker. Those that do, can interpret the impact of any market fluctuations on their proposal and remain confident that their expert will recommend the best solution in all the circumstances.
With that in mind, to read what our clients think of the first-class service they receive from us, please click the link HERE to check out our testimonials page.
Then, if you would like some no-obligation mortgage advice that can be tailored to your individual requirements, please call one of our expert mortgage advisers here at Caboodle Financial Services of Sutton Coldfield, Birmingham on 0121 308 9114. Alternatively, just click HERE to contact us via the form on our website and one of our friendly mortgage brokers will be in touch. We very much look forward to speaking with you.
*Source – Mortgage Strategy 12-09-23
The information contained above was correct at the time of publication but is subject to change.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
Sutton Coldfield
West Midlands B75 5BT
Telephone: 0121 308 9114