New Mortgage Ranges On Offer In 2018

It would be fair to say that the end of 2017 was an interesting time for mortgage holders and lenders. Okay, the thought of paying more money each month in mortgage payments may be more difficult or annoying than interesting for most homeowners, but given that this was the first rise in interest rates in a decade, a lot of people had to react to the Bank of England increasing the base rate, and a lot of focus was placed on mortgage ranges.

In figures provided by Nationwide, the average mortgage holder had to pay an additional £22 per month after the movement from 0.25% to 0.5% in November of 2017. With further increases likely, many mortgage holders are considering witching their mortgage to see if they can obtain a more attractive rate. The uncertainty over the future of interest rates also means that mortgage lenders have had to adapt, which has resulted in new mortgage ranges.

New mortgage ranges on offer in 2018

The changes at the end of 2017 meant that several lenders have altered, upgraded or introduced new mortgage ranges for the start of 2018. If you are looking to switch, this is the ideal time to do so. There are suggestions that the base rate could reach 1% by the end of the year, so you may need to act quickly to ensure you have an appealing rate before changes occur.

While the new ranges from existing lenders will be of interest, there is also a new name in the UK mortgage market. This is a very familiar name that you will likely know, but Marks & Spencer is entering the mortgage market through their M&S Bank arm. While the company has provided many credit solutions to their audience, their mortgage offerings represent new ground for the company.

M&S is entering the mortgage market

The M&S brand is well known and highly respected in the UK. This means that many people will take an interest in what is on offer. It is also likely that some people will naturally gravitate towards these offerings because they associate M&S with quality and assurance. These are good attributes to have when looking for finance deals and as a mortgage is likely to be the biggest finance solution a person takes out in their life, people need assurance and confidence in their finance solution.

M&S Bank will offer fixed rate and tracker mortgages, but they also look set to provide solutions that have the first-time buyer in mind. The two to five year fixed rate mortgages will have 90% loan to value (LTV) status. There is also going to be a cashback offer on some of the mortgages.

mortgage ranges

There has already been praise lavished on the offerings of M&S Bank. One financial data service, Moneycomms, has suggested that M&S Bank is providing the cheapest mortgage for many first-time buyers. There is also the fact that M&S Bank has partnered with Shelter, and has promised to provide £25 as a donation for every mortgage that has been agreed. Many consumers like to work with firms that have a conscience, and this small action could go a long way to convincing people to check out what M&S Bank is offering.

At Williams of Petersfield, we know that the mortgage process is challenging and perhaps even draining for many consumers. We are always happy to offer guidance and if you would like help on what your next step should be when buying property, please get in touch.

Petersfield and Surrounds Property News: January 2018

The very latest property news relating to Petersfield and surrounding areas, for January 2018.

At the beginning of a new year, it is helpful to understand where you are and what the state of the market is. At Williams of Petersfield, we are very keen to ensure you are fully informed about the local property market. We know that you want the latest information and the most relevant guidance about the Petersfield property market and on the latest for surrounding areas.

In the final few months of 2017, we offered you a monthly review and this is something we aim to continue in 2018. This review provides you with the most pertinent and relevant news about the local property market. As local property specialists, we are always happy to discuss the market and if you would like to talk about any of these issues in more detail, please get in touch. Our team is highly passionate about the local property market and we look forward to helping you.

There are clearly many aspects that matter in the property market when buying or selling a house and space is a major issue. It is only natural that prospective buyers will be interested in the space available inside a home but you’ll find that outside space also has an impact on buyers, and even on the price of your home. When you’re looking to get ahead or you want to know what price a home carries, aspects like outside space matter, and this is why Williams of Petersfield is on hand to ensure you are fully informed at all times.

Please click on the link to receive the:

Williams of Petersfield Report January 2018

If you are keen to stay in touch with the local property market, rely on us to ensure you have all the information you need. Whether you are looking to make a move soon or you have a general interest, we believe our local property market reports are of benefit and interest.

When you need expert support and guidance in the local property market, Williams of Petersfield is a company you can trust. We have a strong reputation in supporting the local community, so get in touch and we will be more than happy to help you take your next step in the market.