Financial Services Forecast
Today we receive thoughts from Gordon Hunter, Managing Director of the Lifetime Finance Group (LFG)
With over 26 years of experience in the Mortgage Market, both in residential mortgages and Buy to Let, LFG are the Financial Services partner for DJ Alexander Estate Agency and Lettings.
In recent times anyone looking for a new fixed-rate mortgage to buy a property or renew a ‘Roll Off’’ deal for their existing fixed-rate mortgage will have seen some turbulence in the marketplace.
With so many changes to rates and mortgage products available, new deals have been getting more expensive after interest rates started their upwards trajectory in October ‘22. A good Broker with ‘whole of market’ experience has never been more essential, and we still see a high level of mortgage inquiries from our clients.
Despite the many rate increases over the last six months, the good news is that we’re starting to see lenders gradually reduce their fixed rates. Even better, if you have a good level of deposit/equity, then it’s encouraging to see more attractive mortgage deals out there.
Although swap rates appear to be constantly moving, we’re seeing new fixed rates reducing as lenders will be dusting themselves off and competing for new business.
It’s an all too familiar story that some clients are waiting for further rate reductions; however, this can be risky given so many changes to the geo-political landscape. We will always speak with clients on a case-by-case basis and give them good honest advice related to their specific aims and investment goals.
Our landlord clients for Buy to Let Mortgages remain optimistic as there are some good deals to be had out there in the market, as some landlords try new business ventures. We are also hearing that more energy-efficient properties attract a better, more conscientious type of tenant which is excellent for their investment.
Should you wish to discuss either a residential or Buy to Let Mortgage, our mortgage experts would be delighted to chat with you on 0800 211 8700 or email email@example.com