Monthly Mortgage Update
By David Baker
Here are some vital points on the current mortgage market from our expert David Baker.
January Market Update: A Busy Start to the Year
A Surge in First-Time Buyers
January has kicked off with a flurry of activity, particularly from first-time buyers re-entering the market. It’s been an incredibly busy start to the year, with many new clients seeking guidance and support.
Stamp Duty Increases Prompt Urgency
With stamp duty increases set to take effect from April 1st, there’s a noticeable rush among buyers to secure their properties now. This impending change has certainly accelerated the decision-making process for many.
Market Influences: Gilt Market and Inflation Concerns
Current issues in the gilt market, coupled with general fears around inflation, have been driving interest rates higher. These economic factors are creating a challenging environment for buyers and investors alike.
A Glimmer of Hope: Positive Inflation News
Despite the overall concerns, there was some positive news on the inflation front this week. This development has led to a slight decrease in borrowing costs, offering a bit of relief to those looking to finance their purchases.
The Importance of a Trusted Broker
Navigating these turbulent times underscores the importance of having a broker you can trust. A knowledgeable and reliable broker can provide invaluable guidance, helping you make informed decisions and secure the best possible outcomes.