This month we celebrate our second birthday at Stratton Thorpe Mortgage Solutions. It has been a fantastic two years – in that time we’re incredibly proud to have helped arrange over £115million of mortgage loans for first-time buyers, property investors, remortgage customers, and people wishing to upsize, downsize and relocate.
We’re celebrating our 2nd birthday by making a donation and continuing our support for our three charities of the year, all of which have a very special place in our hearts - JDRF, Katherine House Hospice, and Cancer Research.
A personal thank you to every single customer. We look forward to many years ahead saving money, time, and stress for our clients.
MORTGAGE NEWS & UPDATES
*Please note your property may be repossessed if you do not keep up repayments on your mortgage.
UK HOUSE PRICES TO INCREASE BY 30 PER CENT IN THE NEXT DECADE
Research by Comparethemarket.com analysed data from the Office for National Statistics (ONS) from 1992 to 2002 and predicted the UK average house will cost £323,718 by 2031.
In London, it is expected this could rise by a third to an average of £619,568.
This will push the average age for first-time buyers up to 35 in England and 37 in London, which is up to two years older than the age of a typical new homeowner currently.
SOURCE - Mortgage Solutions
REMORTGAGING COULD SAVE AVERAGE HOMEOWNER OVER £3,000 A YEAR
The average homeowner could save nearly £300 a month by remortgaging to another lender, which could help them with the proposed National Insurance (NI) hike.
Research from Habito has found that an average homeowner can save £294 a month by remortgaging to another lender, rather than sticking with the standard variable rate (SVR) or reversion rate of one of the bigger high street lenders.
SOURCE - Mortgage Strategy
AVERAGE MORTGAGE RATE TO FALL TO 1.6 PER CENT BY NEXT YEAR
Average mortgage rates are set to keep falling fuelling the house price boom further, according to economists.
Capital Economics has suggested the average mortgage rate will fall to 1.6 per cent by the end of next year.
Average mortgage rates sat around 2.1 per cent from 2017 to 2019 the firm said, before dropping to 1.85 per cent in July this year as lenders’ risk appetite improved.
SOURCE - Mortgage Strategy
NEW 0.79% LOW MORTGAGE RATE ANNOUNCED
Mortgage rates have tumbled over the past few months and another big announcement in UK Mortgage market. More good news for borrowers as a new 0.79% per cent deal enters the mortgage marketplace. Major lenders are reducing rates across different mortgages and this 0.79% deal is currently the lowest rate on the market.
Julian Stratton said, "We see this announcement as another positive sign of the competitive nature of the UK mortgage market. This new product could pave the way for more lenders coming in with even lower rates soon."
SOURCE - Mortgage Strategy
OVER EIGHT IN 10 BORROWERS LOOK FOR A FIXED RATE: MONEYFACTS
Just over 81% of potential mortgage borrowers are in the market for a fixed rate product, shows new data from the Moneyfacts residential analyser.
This, says head of analyser products Darren Cook, shows “that mortgage consumers appear to appreciate the effect the Bank of England base rate and future inflation rates may have on interest rates as a whole and what type of mortgage they are looking at applying for.”
The data also shows that a little over 36% of people looking for a new mortgage are interested in two-year fixes and 28.4% are in the market for a five-year fix – and 87% of all available products are of the two- or five-year fixed-rate variety.
SOURCE - Mortgage Strategy
LEARN ABOUT OUR REFERRAL SCHEME
We know there is no higher praise than you recommending us to your friends and family. Our referral scheme is our way of saying thank you to our loyal clients. Recommend Stratton Thorpe Mortgage Solutions to your friends and family and receive a £50 Amazon voucher as a thank you.
Find out more about how you can qualify and start referring today
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