Good news for homeowners, the average house price in September rose 5.3% year-on-year, a 1% rise from October. This means existing homeowners can benefit from improved housing equity by having access to the most competitive remortgage deals. Plus the more obvious benefit of being able to sell their property for a greater profit.
Mortgage affordability is helping to counter concerns over rising house prices but borrowers are becoming increasingly aware that today’s preferable rates won’t last forever. The Bank of England has indicated that rates will remain as they are until quarter 3 2016 nevertheless 96% of homeowners opted for fixed rate mortgages in September in a bid to protect themselves from rising interest rates in future.
Those wanting a new mortgage shouldn’t wait, you could be paying considerably more by waiting, see if you can make serious savings and contact Number One Mortgages today to discover the best deal for your circumstance on 01273 736536.