Lenders pulling mortgage deals: what this means for you

News at Whitakers | 21/10/2022

With the increasing interest rates and media attention, you might be wondering what this means for you.

The interest rate changes may affect you, whether you're a first time buyer, looking to move on to your next home, or simply looking to remortgage. A higher interest rate will mean your montly repayments will increase and may add a significant amount to to total balance you will pay. This is why it's more importan than ever to utilise expert mortgage advice and ensure that you are receiving the best rate possible. 

A variety of factors, including rates, house prices, and supply and demand can affect property prices, including interest rates. The property market is still very strong, and demand is up from 2019 still. At the moment mortgage deals are slightly limited in terms of choice, but there are still plenty of deals available. This is why it’s more important to work with an adviser, especially if you’re considering re-mortgaging early to get ahead of the increases. Not only do they have their finger on the pulse of the housing market, they know who you can work with and what lenders will offer you a mortgage. They will look at a variety of options for you. 

Whitakers work with Mortgage Advice Bureau to give our clients access to expert mortgage and protection advice and to make the buying and selling process run smoothly. Mortgage Advice Bureau have access to over 12,000 mortgages from 90+ lenders so they can find the right mortgage to suit your individual needs.

If you’re considering buying a house but are concerned about the current changes, get in touch with a mortgage advisor today. Mortgage Advice Bureau are more than happy to offer advice and guidance, and walk with you through the mortgage process. They will take care of everything, from explaining all of your options and helping you select the right mortgage, to choosing the most suitable protection for you and your family and handling the whole application process.

Get in touch to arrange a free initial no-obligation appointment with an adviser now on 01482 334444.

For more information on the current market and what this means for you, click here