The sun is shining once more, and I am in a particularly upbeat mood following a quick trip to Madrid this weekend following a certain team in Red. A good sporting event is always good for the soul!
So, despite Trump’s visit, European elections and all the noise that surrounds us these days, there are a lot of positives to take.
In fact, you could say that today’s buyer is spoilt rotten. Mortgage rates are obscenely low and, in the majority of cases, buyers are calling all the shots.
While the passing of the 29 March Brexit deadline will have spurred some into action in April, a broader Brexit apathy is becoming stronger by the day.
April was the month when activity levels for brokers started to pick up and this was confirmed in the Bank of England’s latest data.
People are increasingly of the view that, even if prices fall in the short-term following a potential no-deal Brexit, in the medium-term they will reap the benefits.
Remortgages have been driving activity for some time but over the past two months there has been a definitive pick-up in purchases.
First-time buyers are still the most active demographic, but there are now considerably more transactions further up the property ladder, too.
For standard residential mortgages, borrowers can obtain 2-year fixes at 1.35%, (3.84% APRC) and 5-year fixes from 1.78%, (3.59% APRC) whilst variable tracker rates are around from 1.29%, (3.82% APRC).
Those looking at Buy-To-Let can still obtain products from just 1.39%, (4.71% APRC) for a 2-year tracker or 5-year fixes are available from 1.99% (4.43% APRC).