Lenders best mortgage rates help boost home buyer demand.
Lenders best mortgage rates are helping to boost home buyer demand, which has just hit at a 5 year high according to the latest figures.
While house prices remain static and low rate mortgage deals are available, the news is good for those planning to make a property purchase. The group who could benefit most may be first-time home buyers.
According to a new Hometrack report, the UK housing market experienced a boost in sales during Feburary with home buyer interest hitting the highest level recorded for the past 5 years.
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The report also shows that the number of home buyers registered with estate agents grew by 18 per cent. This is the strongest increase in demand since February 2007. As many buyers also double as sellers, the volume of property which came to the market grew by 10 per cent during the month.
Home buyers have been greatly helped by new products at high loan to value levels and the best mortgage rates for some time being launched. Lenders such as the HSBC, who offer a 5 year fixed mortgage deal at 4.89 per cent, are trying to improve the market with their range of new offers.
Figures were also improved by those first-time buyers wanting to find a property and complete a sale prior to March 24, when the Government's stamp duty holiday ends.
Deal Direct are experienced with dealing with all the different mortgage providers and their various offers. We continue to find the best mortgage rates and deals available in the UK today.
