Mortgage Deals going Cheap Really?

Mortgage broker in wolverhampton contact Paul on 01902 213201

Are you considering changing your mortgage deal because now is a very good time to switch your mortgage product.

Why is now a great time? Well we have Brexit which is damping down the economic climate at the moment in Britain. However this is a positive and not a negative because most consumers are waiting and not making any financial decisions at the moment.

There is a certain level of uncertainty across the globe at the moment which is having a ripple effect across Britain. The ripple effect is that because long term internal bank to bank lending rates have dropped over the past three months, this decrease has now been passed on to the mortgage borrower. Mortgage lenders now have tranches of money which they have borrowed at a cheap rates. Therefore they are passing on this cheaper money to the consumer so rates are low for fixed rate products at the moment.

 

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At the moment subject to personal circumstances there are plenty of mortgage products on a 2 year fixed deal below the 2% mark. If your current mortgage deal is coming to an end use a independent mortgage broker they will have access to mortgage products not available through the high street banks, plus information about what each lender is looking for in terms of client criteria that is not made available to the general public.

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If you like a free consultation and a professional recommendation on the best mortgage for you call Paul on 01902 213201

The Wolverhampton Property Market Is Still Strong

House prices have moved ahead in August according to the Halifax, the property market is still strong. Average prices rose by 0.3% month-on-month, taking the annual rate of house price inflation to 1.8%. There is still good demand for new homes despite the uncertainty in the political and economic environment because people still need to move home and buy and sell properties. Market data released from the Halifax states the average price for a new home in the UK has risen to £233,541, up by almost £4,000 since the same point last year. The Wolverhampton property market is supported by strong employment levels and the continued shortage of houses for sale.

One key factor for property buyers in Wolverhampton is the continued fall in mortgage interest rates. Falls in gilt yields, which have dropped to record lows this week  with interest rates dropping to just 0.4% are  being passed on providing lower fixed-rate mortgage deals. At the moment we have two-year fixes available at rates of around 1.20% depending on mortgage product and personal circumstances, while certain five-year deals have fallen to around 1.90%.

If you like a free consultation and a professional recommendation on the best mortgage for you call Paul on 01902 213201