Homeowners who took out a mortgage at the most recent market low may now be looking to remortgage to avoid seeing their monthly repayments spike, according to Moneyfacts.
Market grows slightly between August and September. Lenders’ cut-price deals have helped market remain buoyant. Modest boost for first-time buyers in London.
Market grows slightly between August and September. Lenders’ cut-price deals have helped market remain buoyant. Modest boost for first-time buyers in London.
It was an encouraging month for the mortgage and property markets, with house prices growing slightly, an increase in mortgage lending and greater product choice for homeowners.
Low mortgage rates boost first-time buyers. Overall market steady compared to July. Yorkshire remains top region for small deposit borrowers.
Falling swap rates caused mortgage rates to drop substantially during August, with many homeowners capitalising by taking out longer-term fixed rate deals.
Existing homeowners grabbing bargain mortgage rates. Slower house price growth helps some younger people onto ladder.
Competition in the mortgage market remains strong, with mortgage rates falling since the turn of the year.
Number of mortgages approved up compared to June. London market continues to be dominated by those with large deposits. Other regions offer fertile ground for first-time buyers.