Cheaper borrowing with mortgages at record lows

You may have seen some great headlines this month - 'buy a home NOW' in the Daily Mail; 'buy now or regret it later: there might never be a better time to buy a home' the Daily Telegraph and 'cheapest ever home loans' the Daily Express. In fact, the Robinson Jackson Group feels the conditions for home movers are some of the most favourable we have ever seen.

As well as lower stamp duty bills thanks to the Chancellor's recent reform, mortgage rates are at record lows. Figures suggest rates and fees have been falling since the start of 2015 as mortgage lenders look to attract new customers with enticing deals.

Savvy borrowers are also seizing the opportunity to trade-up with the help of low rates of interest. In most cases they are arranging new mortgages to move to a bigger homes and are finding their monthly mortgage repayment stays the same or is actually reduced.

Call our branches to book an appointment with one of our Independent Financial Advisers. In most cases they will be able to meet you the same day at the branch.

Mark Alexander, the Managing Director of Mortgage Find, says that competition between lenders is pushing mortgage rates down on an almost weekly basis: "Banks have money to lend and a competition war for new business has erupted, with lenders lowering rates to beat their rivals and attract customers. There are some fantastic two and five-year fixed-rate mortgages in the market and we have an in-house mortgage advisor in every branch of the Robinson Jackson Group, ready to help borrowers secure the best mortgage for their home move. In most cases we can offer same-day appointments, with access to special rates not available on the high street. Borrowers just have to contact their local branch or call in person."

Mortgage Find states that two-year and five-year fixed rates have never been lower, which present buyers with fantastic opportunities to 'lock in' to affordable mortgage repayments. There's also good news for buy-to-let borrowers, who have over 800 products to choose from, with lenders accepting smaller deposits, offering lower rates, lending to older borrowers and, in some cases, taking into account personal finances when assessing affordability.

In other good news, the Bank of England's voting notes suggest that an interest rate rise is unlikely in the imminent future, with the committee unanimously voting in favour of keeping the rate at its historic 0.5% level. This comes after a period of difference in 2014 where two committee members voted to raise interest rates in four consecutive meetings. Today's economic climate, with cheaper oil prices, uncertainty in the Eurozone and falling inflation, sets the scene for low interest rates for the coming year that, in turn, paves the way for low mortgage rates.

If you would like to organise a new mortgage or talk about property investment finance, contact your local branch today. Our staff can also show you the latest selection of homes for sale in South East London and Kent.

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