What happens to mortgage rates is key when it comes to predicting market trends. As mortgage rates continue to decrease, our independent advisor, James Barkley, has provided us with the below rates in comparison to October 2020:
This is positive news for anyone looking to purchase a new property but could also change in the near future. If the current rate of national inflation continues, then the Bank of England could increase the base rate which would have a knock-on effect on the property market.
There have been significant changes in the mortgage market recently including:
A recent study by Which? showed that 41% of first-time buyers were declined a mortgage when applying. It takes less than 10 minutes to apply for a decision in principle and is a crucial step to take before viewing homes to purchase.
To find out more information, you can contact James Barkley on 07973701497 or by email at firstname.lastname@example.org.