Firstly, I would like to wish you all a very happy and prosperous New Year.
The end of the year saw the Bank of England have its last Monetary Policy Committee (MPC) meeting of 2018 and holding the Base Rate at 0.75%. With the increased uncertainties surrounding Brexit in the week leading up to the meeting the unanimous vote was made.
However, there are some positive predictions forecast for 2019 – with house growth being forecast higher than that of 2018. Given the current political situation – it would be prudent to be realistic with house prices, similar to what we saw in the latter half of 2018.
We are also feeling positive about what 2019 will bring into the industry with more lenders looking at assisting Self Employed, Later Life Lending and allowing family members to help their offspring in obtaining a mortgage.
Joint Borrower/Sole Proprietor (JB/SP) mortgages are becoming more popular and more widely available with lenders recognising that purchasers whether it’s a First Time Buyer or a house mover still sometimes need that additional assistance which family members are willing to provide.
Even with the on goings of Brexit throughout the year we still had an increase of business levels and with the rise in rates that took place throughout the year, this did not deter customers (both existing and new).
Lenders are taking on board that its not only a 2 and a 5 year fixed rate that appeals to customers – the introduction to competitive 3 year fixed rates and longer term fixed rates, especially with the lender incentives has enabled us to fulfil the requirements and requests made to us.
Whether you are considering re-mortgaging or would like to purchase a new property and would like to have a chat with a Financial Adviser and would like independent mortgage advice, please call us on 0333 772 0672 or email us with your enquiry: email@example.com.
All initial consultations are at no cost with no obligation and we are always happy to help.