![\"mortgage](\"https:\/\/www.impactsf.co.uk\/wp-content\/uploads\/2019\/10\/mortgage-jigsaw-300x160.jpg\")
In addition, lending volumes are up!\u00a0 According to UK Finance, mortgage lending (gross) in July 2019 totalled an estimated \u00a326.1 billion, an increase of 2.9% on July 2018 and the highest since March 2016.<\/p>\nIt really appears to be a race to the bottom!\u00a0 In the last few weeks, we\u2019ve seen five year fixed rates available from 1.45% and two year fixed rates starting from just 1.19%.\u00a0 Obviously, terms and conditions apply based on individual circumstances, but if you\u2019re looking to change your current mortgage, use the uncertainty across the economy (and country!) to your advantage!\u00a0\u00a0Not only are there some great rates to be had, but if it is a re-mortgage, a number of lenders will also cover your legal and valuation costs to transfer you over.<\/p>\n
In addition, lending volumes are up!\u00a0 According to UK Finance, mortgage lending (gross) in July 2019 totalled an estimated \u00a326.1 billion, an increase of 2.9% on July 2018 and the highest since March 2016.<\/p>\n
The Financial Conduct Authority reports that 5.5% of mortgage lending in Q2 2019 was for over 90% of the property\u2019s value.\u00a0 There are now several lenders who will consider 95% loans, so just a 5% deposit, if you know where to look!<\/p>\n
UK Finance also confirmed that 65,350 loans were approved for house purchase for first time buyers and home movers in July 2019.\u00a0 This was 3.6% higher than the same period last year. The average (mean) loan approved for house purchase was \u00a3174,914 for first time buyers (up 2.6% on July 2018) and \u00a3231,603 for home movers (up 3.7% on July 2018).<\/p>\n
Nationwide estimates that house prices were unchanged in August 2019 but grew by 0.6% against the 12 months before.\u00a0 Whereas Halifax reports that they grew 1.8% in the year to August 2019 and that the average UK house price in August 2019 was \u00a3233,541.<\/p>\n
Finally, when asked why people do not switch mortgage providers, the general response is because they think they are too complex to be helped.\u00a0 In a market with highly competitive rates, many lenders have looked at other ways to assist customers rather than just pay rates.\u00a0 This can include criteria such as types of property, types of customer, income make up (self employed, etc), guarantors, charges on more than one property and so on.\u00a0 The likelihood is that you are not alone in your requirements and there will be a lender out there willing to assist and who probably needs you just as much as you need them…<\/p>\n","protected":false},"excerpt":{"rendered":"
It really appears to be a race to the bottom!\u00a0 In the last few weeks, we\u2019ve seen five year fixed rates available from 1.45% and two year fixed rates starting from just 1.19%.\u00a0 Obviously, terms and conditions apply based on individual circumstances, but if you\u2019re looking to change your current mortgage, use the uncertainty across […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"slim_seo":{"title":"Don't be loyal to your current mortgage provider when rates are so low, think of number one! - Impact Specialist Finance","description":"It really appears to be a race to the bottom!\u00a0 In the last few weeks, we\u2019ve seen five year fixed rates available from 1.45% and two year fixed rates starting fr"},"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9192"}],"collection":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=9192"}],"version-history":[{"count":0,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9192\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=9192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=9192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=9192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}