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Weekly Mortgage Market Update 4

11.02.19

It’s been a pretty good start to the year in general, with a good level of leads coming through from potential clients who seem to be more serious about doing something than many were last year.

What consumers really need is some guidance amidst the messy political fog at present. Which is why you can all feel safe when Governor of the Bank of England Mark Carney states that interest rates may go up or down. I guess that’s why he’s paid the big bucks!

Meanwhile, Coreco has been busy in the press with comments on BBC news talking about the market in general in this extract:

“”It’s a very good time for people looking to borrow,” said Andrew Montlake, a director at Coreco, a mortgage broker. He said there had been a lot of competition among lenders in January, with some very good deals for five-year fixed mortgage deals. Some lenders are offering five-year fixed deals at below 2%, he said.”

The full article is here

Elsewhere, we also appeared on ThisIsMoney.com TV talking about the property, mortgage and buy to let markets. If you have a spare 20 mins on the train home you can see this interview here:

https://www.thisismoney.co.uk/money/investingshow/article-6675391/Whats-happening-house-prices-property-market-Investing-Show.html

Finally, some good news for those affected by dreaded Japanese Knotweed. A new report shows that this issue should be completely under control, though not until 2040!

Mortgage rate wise things are still pretty much the same. For standard residential mortgages, borrowers can obtain 2-year fixes at 1.40%, (3.78% APRC) and 5-year fixes from 1.80%, (3.36% APRC) whilst variable tracker rates are around from 1.34%, (3.82% APRC).

Those looking at Buy-To-Let can still obtain products from just 1.44%, (4.44% APRC) for a 2-year tracker or 5-year fixes are available from 2.02% (4.03% APRC).

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