Mortgage rates to stay low for longer

The Bank of England today held the base rate at 0.1%. This is good news and provides more stability as the mortgage market returns to normality.

It's clear mortgage rates are going to remain at or close to record lows for some time, and with the retention deals currently being offered by lenders, it's worth getting in touch to see if you can obtain a better deal.

The banks are working through a backlog of applications built up over the course of the lockdown, and with the return to work of surveyors we now expect to see approvals come through at greater speed.

This is all positive, but it remains the case that the lenders are averse to risk while they get to grips with the effects of the pandemic.

That means it's more important than ever that applications are put together by a professional, particularly if you're self employed.

If you'd like to make adjustments to your own finances, please get in touch with us.