The Year of Mad Mortgages

Families are being offered mortgages at historically low rates in a pre-Brexit sales war.

Deals for for first-time buyers are the cheapest on record, and five year fixes can be secured for just 1.64 per cent. A 15 year deal costs just 2.55% compared with 6 per cent the last time one was on the market.

Banks are offering the bargain prices to win customers keen to complete before Brexit. Their borrowing costs are also lower because the Bank of England is expected to cut its base rate later this year.

Lenders are also offering incentives such as £1,000 cash backs, mortgage approvals are are at a record high, and first-time buyers has reached its highest since 2007. Even with as little as a five per cent deposit, a record low of 2.59% is available. Banks and Building Societies are launching new deals at weekly intervals.

We are now in the middle of an extraordinary mortgage price war and the biggest lenders are using their financial muscle to offer some incredibly good deals.

These facts are true and really rewarding, so whether you are buying or re-mortgaging, there has never been a better time to take out a mortgage.

Westexe Mortgages will search the whole market on your behalf and only recommend the best deal for you. Our advice is completely free without any obligation.

So why wait? The answer is yes!… how can we help.

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Posted on September 11, 2019 by Peter Marriott, in: Uncategorized

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