News

Positive response from mortgage markets

Looks like good news for homebuyers as we ease out of lockdown.

It seems a number of mortgage providers are reviewing their lending criteria in light of lockdown changes. And that’s good news even if you’ve been furloughed or you’ve requested payment holidays.

There’s some really competitive mortgage deals available and re-mortgage schemes, with later life lending rates being especially low.

Phil Yates of solicitors Cullimore Dutton says he’s receiving daily updates from lenders reviewing their mortgage propositions with “more and more clients wanting to buy property or looking to re-mortgage for a better interest rate.  

"Now’s a great time for a re-mortgage review with interest rates at an all-time low. You could be paying much less each month. And even if you’re tied to your current mortgage product, it may still be cheaper to re-mortgage and pay off any early redemption penalty.” 

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