The mortgage market remains favourable for borrowers

Brexit means the mortgage market has remained a relatively favourable place for borrowers.

Although the Bank of England wants to normalise interest rates, political uncertainty generated by the UK’s departure from the EU has put this ambition on ice.

As UK property sales decline in response to the uncertainty, lenders have responded by making loan terms more competitive.

High Street lenders will typically offer free advice, valuations and cashback incentives when re-financing loans.

For private banks, many are willing to provide mortgages without requiring borrowers to use their other services, which was not always the case.

The result is a lending environment that is not as competitive as it was when the base rate was 0.5%, but it’s not far off.

If you would like to discuss your mortgage and borrowing options, or have any questions about what the rest of 2019 may bring, please get in touch. We'd love to help.