The 2016 mortgage market – will the future be bright?
There is a great deal of optimism about mortgage lending in 2016. It is expected that lending will be strong, particularly in the first 3months of the year, as would-be landlords race to get themselves a deal before the market faces increased regulation and stamp duty rises in March.
On the downside, rates are predicted to start to rise at some point next year. Whether or not there is an interest rate rise, which many now predict there will be in reaction to the US having increased its rate, lenders are likely to need to increase mortgage costs to provide for the additional funds they are required to carry in reserve.
Those buyers looking to purchase a home, remortgage or invest property, are advised to start looking around the market sooner rather than later, as lenders may not be able to keep their rates at historic lows.
To avoid missing out if rates do start to climb next year, you are advised to look out for a deal with a rate that is still offered at a record low.
There are some really competitive mortgages currently on offer, but how long this will remain the case is difficult to know. The advice therefore is to contact us at Deal Direct to find out what is on offer at your deposit level.
For mortgage advice and a competitive offer call us today on 0800 048 8828.
