In recent times we’ve seen a fairly turbulent mortgage marketplace, with lenders pulling products and re-pricing them upwards, largely in response to the stubbornly high inflation figure – which also drives up the Base Rate. Swap Rates (which influence fixed rate mortgages), have also been rising.*
In response to the rising interest rates, the government has agreed with over 85% of lenders a Mortgage Charter to help protect borrowers who may experience difficulty in paying off their mortgage.**
Time will tell if we subsequently see a marked improvement in the level of inflation, which, in turn, may then influence the enthusiasm from lenders to fight for market share.
These issues are set out in the latest newsletter, and to help make sense of it all, it’s vital that you then talk to us. We have the expertise, and know where to look for the most suitable products for your own individual needs.
I hope you find this issue of interest, and do get in touch if you have any questions.
