HELLO 2025!! Happy New Year from Team Stratton Thorpe
Julian & Peter’s LOOK AHEAD TO 2025
Julian Stratton & Peter Thorpe, Directors & Co-Founders Stratton Thorpe Mortgage Solutions
The mortgage landscape for 2025 is beginning to stabilise, which is encouraging news for both buyers and homeowners. We look forward to borrowers planning with a higher degree of confidence.
House prices are expected to experience slight growth in 2025, indicating a steady increase in value without the risk of sudden price surges.
The current landscape presents numerous opportunities for those considering a new mortgage or entering the property market. Since prices are expected to continue their upward trend, waiting for significant rate drops may not deliver the savings some anticipate. Acting sooner could help you lock in a property value before prices increase.
Buyers who take action this year could reap the benefits of rising property values as the market strengthens. The projected base rate for 2025 is expected to be around 3.75% by the end of the year, suggesting a more predictable environment for both buyers and current homeowners, with mortgage repayments likely to stabilise rather than fluctuate.
Team News
📣 We have some big news for 2025 as we plan to grow our team. Watch this space…👀
MORTGAGE NEWS
£100 million mortgage loans arranged over the last year
We’re thrilled to say we helped our clients arrange over £100 million in mortgages over the previous year. Whatever your plans for 2025, we can help you. We search from a comprehensive range of lenders and put YOU at the heart of everything we do.
• Remortgaging – is your current deal ending, or have your circumstances changed?
• Moving house – are you downsizing or moving up the ladder?
• Buying your first home but don’t know where to begin?
• Want to release equity for renovations, retirement or investments? *
• Are you starting or expanding your property portfolio?
• Do you want to explore commercial finance to help your business grow? **
*For equity release we act as introducers only.
**For commercial finance we act as introducers only.
Our team has over 85 years of combined mortgage industry experience. We’re ready to share it and make 2025 a great year.
Two-fifths of mortgages will run past pension age
People choosing longer mortgage terms means two in five of all new mortgages taken out in Q2 this year will go beyond a borrower’s pension age, an analysis found.
An analysis of lending data carried out by LCP, based on figures from the Bank of England, showed this was a rise on the three in 10 mortgages that ran into retirement at the end of 2021.
The firm said lending into retirement had remained high, despite mortgage rates declining.
In total, more than a million new mortgages issued since the end of 2021 are expected to run past a borrower’s pension age.
Borrowers aged between 30 and 49 make up the largest group taking out these mortgages, with 33,493 lent to people aged between 30 and 39 and 35,092 to people aged between 40 and 49. This was up from respective totals of 27,109 and 31,065 during the same period last year.
A notable number of borrowers aged between 50 and 59 are also opting for mortgage terms that would take them into retirement, totalling 21,021 in Q2 this year, up from 18,551 in 2023.
SOURCE: MORTGAGE SOLUTIONS
REMORTGAGING, MOVING OR BUYING IN THE NEXT 6 MONTHS? GET ‘RATE REASSURANCE’ ON YOUR MORTGAGE
We often hear, "I'm nervous about 'locking in' a mortgage. What if lenders change their rates before my completion?" But there’s no need to worry. We offer 'Rate Reassurance' and track the latest mortgage rates and deals, so you don't have to. If lenders drop rates or introduce new products, we’ll let you know and reassess your options. And if rates go up, you benefit from locking in your product early.
*Switching to a different lender may incur extra cost/charge.
Book a free, no-obligation initial consultation to discuss your options and get 'Rate Reassurance' with Stratton Thorpe Mortgage Solutions.
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Average private rents in the UK up 8.7% annually
Government figures showed that average private rents in the UK were 8.7% higher in October than a year ago.
Data from the Office for National Statistics (ONS) found this came to an average of £1,307 per month, £105 higher than in 2023. The growth in October was sharper than the 8.4% increase recorded in the year to September, but lower than the record-high 9.2% jump seen in March this year.
Sharp growth in England and Northern Ireland
In England, the average private rent was £1,348 in October, up 8.8% or £109 from the year before.
This was higher than the annual rise of 8.5% recorded in the year to September, and lower than the recent record high of 9.1% seen in March.
SOURCE: MORTGAGE SOLUTIONS
71% of UK residents support mortgage education in schools – Compare the Market
The mortgage team at Compare the Market conducted a survey to assess the understanding of various mortgage-related terms among UK residents, and found that 71% believe the topic should be taught in schools.
Among Gen Z participants (aged 16 to 26), 62% thought the mortgage process should be explained at school, while 76% of the Silent Generation (aged 78-plus) shared the same view.
Despite having a mortgage, 16% of respondents admitted to not fully understanding the process.
The most understood term was ‘fixed-rate mortgage’, known by 52% of respondents.
This was followed by ‘stamp duty’ at 47% and ‘mortgage term’ at 46%.
On the other end, ‘lasting power of attorney (LPA)’, was the least understood term, with only 7% familiarity.
‘Standard variable rate (SVR) mortgage’, was understood by 12%, while ‘capital on mortgage’ was recognised by 20% of respondents.
People in Norwich showed the least confidence in understanding mortgages, with 23% admitting they do not fully understand them.
Newcastle had 21% who felt the same, and 19% from London expressed confusion.
SOURCE: THE INTERMEDIARY
