Clients across the country are being encouraged to consider Brexit opportunities, particularly in the remortgage and protection markets.
With the Governor of the Bank of England, Mark Carney signalling a further cut to Bank Base Rate over the summer, and lenders actively repricing in order to secure business volumes, there’s certainly an opportunity for existing borrowers to benefit from remortgaging.
In particular, clients who are sitting on lenders’ Standard Variable Rate (SVR’s) should seize the opportunity to review their mortgage arrangements and potentially take advantage of the competitive range of mortgage deals available. Whilst these potential savings are a welcome outcome that can be merrily spent on goods and services, a sensible approach which must not be overlooked is the need to address the shortfall in protection which many borrowers and households have. Professional advice is, therefore, key in helping you not just identify the right mortgage, but also the right protection package to run alongside.
First Time Buyers – Bright Advice – Mortgages St Neots
What does Brexit mean for first-time buyers? Well, the Treasury have said that they believe house prices could now fall by between 10% and 18% over the next two years, compared to where they otherwise would have been, which is welcome news for anyone who is looking to buy a house for the first time. As for second-time buyers, one would hope that ongoing purchase-price negotiations would help balance any reductions experienced on a sale.
The National Association of Estate Agents (NAEA) believes that London will see the biggest downward change in house prices due to Brexit over the next three years, compared to what they otherwise would have been however since they expect prices to continue to rise in the medium-long term, this simply means a slower rate of increase rather than a fall in real values.
Bright Advice – Mortgages St Neots
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