Mortgage Market Weekly Update 25/08

Volatility continues in the mortgage market with frequent product changes across the board. This is due to lenders pricing a set amount of money for lending at a given price based on current costs and then have to predict what the short term future cost to them will be for future money. To maintain a healthy margin between the cost and the lending price, lenders have to make a judgement on the future price which can be inaccurate if the markets do not react in a predictable way. Many experts still believe that the Bank of England base rate will peak at 5.75% and then slowly reduce throughout 2024 and 2025 as inflation continues to fall back towards the target of 2%.

Spotlight On: Mortgage Affordability

When referring to ‘mortgage affordability’, many people immediately think of monthly mortgage payments. However, in the mortgage world, this term can also refer to the

Spotlight On: Let to Buy

Let to Buy is simply the process of letting out your existing property to enable you to move forward with a new residential purchase.

Spotlight On: Perenna Bank

A relatively new lender, but one that you may start to hear more and more about, is Perenna Bank. Providing lending of up to 6x

Spotlight On: Foreign Nationals

As Part Exchange enquiries increase and Home Movers continue to lead the way in terms of reservation numbers, many purchasers will already have a mortgage

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MORTGAGES ARE SUBJECT TO STATUS, VALUATION AND LENDER CRITERIA AND ARE NOT AVAILABLE TO PERSONS UNDER THE AGE OF 18.

A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION. ANY FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE ADVISER WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU RE-MORTGAGE.

New Homes Mortgage Helpline is a trading name of The New Homes Group Limited which is registered in England and Wales under company number 2509770, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500‍ 2481‍ 05.

For activities relating to regulated mortgages and non-investment insurance contracts, The New Homes Group Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority.

Connells Limited’s Financial Services Register number is 302221. Most buy-to-let mortgages are not regulated.