Reasons to be cheerful

Wednesday, 14th August, 2013

Aside from the good weather, there are plenty of reasons to be cheerful at the moment – particularly for those looking to buy a property.

Mortgage approvals are now at a three-year high and the government is making home loans more accessible, particularly for first-time buyers who typically have smaller deposits.

In fact it was revealed that almost 166,000 mortgages were approved in the first half of 2013 compared with the same period in 2012. This combined with the fact that house prices are once again on the increase (we’re even hearing how ‘bidding wars’ are making a comeback) is a sign that people are moving and lenders are lending.

So, great news for homeowners looking to find a mortgage and fantastic news for first time buyers looking to get their feet on the property ladder.

As a mortgage adviser and whole of market mortgage broker we have witnessed this change first hand and have had a clear overview of the products coming on to the market. Fixed rate mortgage rates have been cut by a number of lenders and we’ve recently seen 0% mortgage deals, which illustrates just how competitive the mortgage market has become and the steps lenders are taking to provide the best mortgages that stand out from the crowd.

So, what should prospective buyers and investors be doing given this explosion within the marketplace?  Quite simply, they should be speaking with a reputable mortgage broker to not only find the best product available to them but one that suits their lifestyle, their needs and their financial situation. After all, there are now countless products available and navigating your way around them can often be a complicated process.

Another reason to be cheerful (well, it certainly put a smile on the faces of the Complete Mortgages team) was a recent article in the Express, which argued why it pays to use a mortgage brokerage as opposed to trying to find the best deal on your own.

From our perspective, the three most compelling reasons are as follows:

  • In the majority of cases you would get the same deal if you went to the lender direct so you wouldn’t save money – you would just incur time.
  • Mortgage brokers fully understand the market and have a full overview across a huge portfolio of products.
  • Mortgages are complicated enough – so let us do the hard work.

Thinking of buying your next home, reviewing your current mortgage or investing in a property and would benefit from a free mortgage consultation? Get in touch on 01483 233014 or email all@complete-mortgages.co.uk.