Mortgage rates in May were reported to be the lowest ever since records began in 1995. However t...
Mortgage rates in May were reported to be the lowest ever since records began in 1995.
However there wasn't a surge on new mortgages. Primarily because these record rates apply mainly to purchases with more than 25% deposit, and that eliminates almost every first-time buyer.
The higher loan-to-value deals still provide very attractive rates and this looks likely to continue. With Bank of England interest rate freeze continuing at 0.5%, the expectations are that there will be no increase for the rest of this year.
With attractive borrowing rates and bouyant property prices, the current market conditions offer a realistic opportunity for first-time buyers and tenants seeking to become home owners.
And it's also an excellent opportunity for sellers to achieve their asking price...fast.
Whether you are buying or selling, give us a call because we have buyers waiting and many of our property sales are agreed even before we get a chance to put them on the open market.
Give us a call today 028 9022 8409.