In addition, falling average mortgage rates can increase the attractiveness of the market, especially for first-time buyers. Indeed, the Bank of England reported that the average two-year fixed rate mortgage at 75% LTV fell from 1.9% to 1.45% from 2015 to 2016.
At haus we believe greater mortgage accessibility means that conditions for buyers from all walks of life improve significantly. It will also encourage buyers to make the most of mortgages opportunities and particularly the attractive rates they offer. In particular, there is increased opportunity for more first-time buyers to take their first steps on the property ladder.
First-timers who have built up deposits or those that are using the 'Bank of Mum and Dad' will want to ensure they deploy that capital at the best possible time and get the most for their money. Any prospective buyer should look to make the most of these mortgage offers and their attractive rates, in particular, as an excellent opportunity to move up the property ladder.
For any interested buyers, please book an appointment with our trusted, extremely capable mortgage advisor Samantha Jameson.
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