I know it’s been a while, but this week has definitely seen some good news in the mortgage market!!!
Since Luz Truss’s resignation the money markets have started to calm a little and number of the lenders that had withdrawn from the market have returned.
But even better, over the last couple of days some of the big high street lenders have actually reduced theirs rates slightly for the first time in many months, with more to follow!!!
Other lenders have started bringing back more of their product ranges, and a least one large BTL lender has just reduced it’s rental calculation stress rates, making it easier for property investors to get the funding they need.
Obviously, there is a lot of talk about another Bank of England Base Rate rise next month, but with the mortgage market stabilising and improving after weeks of uncertainty and chaos, now might just be the perfect time to lock in that fixed rate you’ve been thinking about.
Expert advice is more important than ever, so please feel free to get in touch with Neil Bird for a chat.
First Time Buyers get up to £25,000 loan to Help to Buy their First Home.
Every First Time Buyer in Scotland will now get a boost of up to £25,000 towards their deposit on their new home from the Scottish Government through their new FIRST HOME FUND.
This means that the dream home they thought was just out of reach could now be within reach with their help.
Yes, it is a loan of FREE MONEY with no interest or repayments to pay each month and you only pay it back when you sell the house again.
Jim Parker, Fife Properties Managing Director and Neil Bird, Senior Mortgage Adviser at Cara Mortgages discuss it more in this in-depth interview.
To book an appointment to see our mortgage partners please click on the link for contact details via phone, email or online: https://www.fifeproperties.co.uk/contact/