The latest update on the mortgage market

As Theresa May and Jeremy Corbyn attempt to strike a cross-party Brexit deal, the uncertain political backdrop has caused some buyers and sellers to hesitate. The result is a more competitive mortgage market, with lenders of all descriptions keen to build their loan books. It therefore remains a good time for buyers to act.

Indeed, it appears many are manoeuvring themselves into a position to take advantage of this fact once the political uncertainty lifts.

For example, the ratio between the number of new buyers and the total new properties listed for sale in London was 8 in the first quarter of 2019. This ratio, which demonstrates the strength of demand versus supply, was the highest quarterly figure in 12 years.

Mortgage rates will also benefit from the broadly more benign economic backdrop that has taken shape since the Federal Reserve became more dovish in January. Other central banks have followed suit and the five-year UK swap rates have been on a downwards trajectory in recent months.

If you would like to review your borrowing options or have any questions about the mortgage market, please get in touch.