| If you’ve been keeping up with the news over the last few weeks (who hasn’t!), it might seem all doom and gloom, particularly if you had been considering looking for a new mortgage. We want to re-assure you that all is not lost. Following the Government’s “mini-budget” on 23rd September and the Bank of England raising the base rate to 2.25%, there has been a mass re-price from mortgage Lenders and some changes to stress tests. This led to some stopping lending temporarily, purely due to the lack of notice they themselves were given and the “market uncertainty”. However, the good news is that majority are still lending or have returned to market quickly, and whilst there’s no denying rates have increased, there are still plenty of deals available.
If you are unsure of how these changes might affect you, please don’t hesitate to get in touch with us. Now is the time to speak to an expert adviser. Whether you are looking to purchase your first property or move home, are coming to the end of your current deal, or just want some peace of mind, we are happy to help. Likewise, if you already have an application submitted and have any concerns on how the Lender will be able to proceed, or your own affordability, please call us. At Ingard, we are whole of market. This means we can source the whole market for you, in order to find the cheapest deal available at the time. We have access to the most up to date sourcing systems and affordability calculators from the Lenders, and are being regularly updated by the Lenders directly on their offerings. Products are changing constantly, so once you are ready to proceed, it’s vital you provide any information and documentation ASAP, so that we can move quickly with an Application for you. We can also discuss a variety of schemes, which you may not have considered, that could help you with your purchase, for example Shared Ownership or Joint Borrower Sole Proprietor deals. Even if we can’t help you now, we can keep an eye on the market and keep in touch when things change. If you are still tied into a fixed deal with early redemption charges, but would prefer to take a new deal now in case rates rise any further, we can help with this too. We cannot guarantee rates would not be lower at the end of your current deal, but sometimes peace of mind is key, and we can go through the options with you. Call us on 01702 538800 or email enquiries@ingard.co.uk |
