Is there ever a perfect time to get a mortgage? Ultimately, none of us really want a mortgage; we’d all rather buy a property outright. Sadly, for the vast majority of us, this isn’t possible. However, if you live in Surrey and are considering applying for a mortgage, or are thinking of remortgaging, now could be the ideal time – and here’s why.

Only a few weeks ago, Get Surrey (the online Surrey newspaper, for those of you who don’t live in and around Surrey) published a feature on the household income you need to earn to live in Surrey’s top key towns.

Naturally, Guildford featured in there – and as a Guildford mortgage broker it’s always good to see our hometown in the media.

According to the findings, the household income needed to buy a property in Guildford is £142,867. Although it wasn’t as high as the household income needed to buy in the nearby towns of Walton (£194,311) or Farnham (£153,712), it’s still pretty high. Interestingly, Zoopla states that the current average value of a UK property is £341,117, whereas the Surrey average is £653,214 – almost double!

At the same time, the debate around a property-fuelled inflation bubble seems to have gained traction. Even the Financial Times recently reported on how the Bank of England expects inflation to rise above 3% in the coming months.

So, back to the question posed in the headline, then.

Given how property prices are climbing (although for how long is anybody’s guess) and mortgage rates are the lowest – and therefore cheapest – they’ve been for many years, the answer is yes, now is the perfect time get a mortgage.

The main reason is that if property prices continue to climb and inflation continues to rise, we may see the Bank of England increase intertest rates, the result of which will make mortgages more expensive. Looking at this in the context of household income, any increase in mortgage rates could bump up the household income needed to buy a property in Surrey even further.

We believe that now – as in right now – could be the calm before the storm. The mortgage sweet spot, if you will. So, on that basis, our view is that if you live in Surrey and need to get a mortgage, contact the Complete Mortgages team right away.

Whether you’re looking for a first-time buyer mortgage, a buy to let mortgage or even an equity release mortgage, Complete Mortgages can help. Contact us on 01483 238280 or email