Mortgage rate trends reveal market wide repricing.
The current mortgage rate trend is for market-wide price reductions.
The hope is this mortgage rate trend reflects the impact the 'Funding for Lending' scheme is having on the market. Launched just 4 months ago, the scheme has made cheaper funding available to lenders to offer lower rate mortgages and small business loans.
It is still too early to tell, but the indications are the scheme is having a positive effect. Cheap funding will be on offer for a further year and it is hoped that rates will remain low during this time.
Low rates mean increased mortgage repayment affordability. Once the cheap funding starts to impact rates offered for lower deposit levels, there is a real chance property purchase may increase which would help the property market overall.
Regardless of your deposit level you are recommended to call Deal Direct for a compeititive mortgage offer. We source the lowest rates market-wide to get you the best deal for your individual situation.
First time buyer mortgage rate trends show that it continues to be difficult to purchase a home at the lower deposit end of the market.
The NewBuy scheme could help those buying a first home, however it is only available for certain new build property with certain lenders. If you want to purchase an older property you will not qualify for the scheme. In this instance you are advised to call Deal Direct and we will find you an alternative mortgage.
Call an adviser for a quote.
