The mortgage war has commenced

Lenders start the year with cheaper mortgages!

It’s been a great start to the year as lenders are becoming highly competitive, offering the lowest mortgage interest rates since the disastrous mini budget at the end of 2022.  Rates fell for 20 consecutive weeks to the end of 2023, but the start of 2024 has seen average five-year fixed mortgage drop below 5% and one lender, HSBC, became the first to offer a deal at 3.94%. Higher mortgage rates put off some buyers moving last year, but know we are seeing many more registering as mortgages become more affordable and moves cannot be postponed any longer.


A shortage of property to sell means that we could have buyers ready and waiting to view homes as soon as they are listed, so time is of the essence when it comes to obtaining an up-to-date valuation and getting your property listed.  Our award-winning team is busy matching buyers and sellers, and transactions are set to rise as the demand continues outstrips supply.


The first sitting of the Public Bill Committee is expected to be in mid-November and the committee will report back by Tuesday 5 December. We will bring you any updates as they are announced.

 

Our award-winning team really knows the local property market, so contact your local Arins branch to book an advice meeting.

 

Arins Property Services - selling & letting homes in Wokingham, Lower Earley, Tilehurst, Reading and Winnersh since 2009.

 

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