So finally the Bank of England have increased the bank rate, just a little step – to test the market?
Tracker variable mortgage rates will reflect this within the month. Fixed rates are a bit of a game of grandmother’s footsteps, has been for a few weeks now – ‘has anybody noticed we have slipped ours up a little bit? If not, perhaps a wee bit more? An increasing number of people are looking at locking into a fixed rate now, if not already on one. Have a look at our Best Buys page The mortgage market on rental properties (known as buy-to-lets) seems very little diminished here. Lenders have tighter criteria, the tax and stamp duty are increased, but many are using the greater pensions freedoms to look seriously at broadening their pension building strategy. And it is very encouraging to see how many ‘first time buyers’ are coming to us too – not sure whether it’s them or their parents who are encouraging this, but that first step on the housing ladder can often be achievable, with sometimes lateral thinking.