Do you need a mortgage for your property purchase?

Posted 7 March 2023 by Neil Moore

According to Horsham Mortgage Centre, the present uncertainty around mortgage rates and the general economic outlook has understandably caused some nervousness amongst buyers and homeowners. With inflation around 10%, interest rates have had to increase, pushing up mortgage costs. But over the last month, rates are starting to come down and a fixed rate mortgage from 3.9% can now be secured.

Here at GL & Co, we have also found that across the mortgage market product choice is increasing. According to Moneyfacts there are more than 4,300 different deals available. This is the first time since August 2022 that product choice has risen above 4,000. And the average interest rate charged on both two-year nd five-year deals fell in February for the third month in succession. The latest falls put the cost of both products back to October 2022. This is despite the fact that the Bank of England has since raised the base rate of interest by 1.75%. (Source: Dataloft, Moneyfacts, Zoopla)

At The Horsham Mortgage Centre, in addition to accessing products, they support you through the whole process, complete all the administration and have developed key internal relationships within the lenders to get mortgages approved efficiently.

By engaging with clients early they can help set expectations, help create a clear understanding of affordability and risks. While they cannot drive down costs, they do have up to date information and visibility on the whole market, to ensure their clients get the best deal.

If you would like to discuss a property purchase or anything to do with mortgage finance, please do contact us here at GL & Co, and we can put you in touch with Edward Lowe and the team at the Horsham Mortgage Centre to help you with your mortgage questions.

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