Mortgage products to remain at or close to record lows for longer

The Bank of England's Monetary Policy Committee today held the base rate at a record low 0.1%. That means rates on fixed and tracker mortgage products will remain at or close to record lows for longer.

The property market has surged back to life since its reopening in May. New business levels at Knight Frank Finance during July were among the highest they've ever been, and we continue to see demand grow as borrowers seek to lock in cheap deals.

It is worth noting that the lenders are still grappling with the effects of the pandemic, and as a result are struggling to keep up with the sheer numbers of mortgage applications submitted by borrowers. With that in mind, we recommend you get in touch as soon as possible if you are planning to purchase or remortgage a property.

Whether you are interested in entering the flourishing holiday lets market, considering releasing equity from your home to give family members a helping hand, or would simply like an informal conversation to assess your finances, we have expert advisors on hand to act as guides.

Please get in touch if you’d like to find out more or discuss your borrowing options.