Mortgages are still continuing!
We wanted to provide you with an overview of the mortgage market to reassure anyone who is in the process of buying and/or selling or thinking of moving house in the near future.
 
Mortgages are still continuing! 
 
The biggest hurdle we are seeing in the market is that some (only some) major lenders have removing product ranges at a higher loan to value. 
 
This is simply due to the fact that a physical valuation cannot be carried out during the lockdown period and isn’t related to funding issues.
 
Lenders are instead utilising their ‘desk-based valuation models’ where possible. 
 
You are still able to apply for a mortgage to secure a good rate based on the very low rates currently.
 
The rates available in the market are slightly lower than a few months ago, taking into account the recent reduction in Bank Base Rate.
 
We are also seeing many clients choosing to review their current mortgage particularly if they feel that their purchase is being delayed.
 
For re-mortgage, further advance and product changes, it remains business as usual.
 
Financial Profiles are keen to help and offer independent, impartial advice. Please feel free to get in touch with any mortgage queries; we would be happy to assist.
 
Call 01252 718018 and ask for Lisa Dearnley - https://www.keatsfearn.co.uk/mortgages