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The mortgage market is looking positive right now, things are stable, with plenty of activity and mortgage rates remaining affordable.
Whether you’re thinking about moving home, remortgaging, or stepping onto the property ladder, now could be a great time to explore your options.
At UK Moneyman, our expert advisors are here to help you find the right mortgage for your needs. With access to a wide range of lenders and the latest deals, we make the process simple and stress-free.
These past couple of weeks, it’s been hard not to feel for those customers who were at risk of missing the Stamp Duty “cliff-edge.”
The home-buying process as a whole takes too long and we have clients who had their offers accepted last year who will sadly have missed the deadline.
Conveyancing remains an area that could benefit from technological innovation, and individual Conveyancers are overwhelmed by the volume of communication. An extension to the deadline would have helped.
Encouragingly, housing affordability in England and Wales has improved, returning to levels last seen before the coronavirus pandemic.
According to the Office for National Statistics (ONS), wages are rising faster than property values, easing affordability pressures.
In 2024, the median home in England cost around 7.7 times average full-time earnings (£290,000 vs. £37,600), down from 8.4 times in 2023.
In Wales, the ratio is 5.9 times earnings (£201,000 vs. £34,300), improving from 6.2 in 2023.
If you’re considering your next step, get in touch today, we’d love to help you make the most of the current market.
UK Moneyman Shortlisted for Later Life Broker of the Year!
We are proud to share that UK Moneyman has been shortlisted for the prestigious “Later Life Broker of the Year” award at the upcoming Mortgage Strategy Awards in London!
This recognition reflects our commitment to providing exceptional service and tailored solutions for our over 50’s customers.
We are incredibly grateful to our customers for trusting us to guide them through their mortgage journeys.
The equity release market is also showing signs of recovery, offering more opportunities for homeowners to access the value tied up in their properties.
Total lending has risen for the second consecutive quarter, driven by increased drawdown activity and improved product availability.
More consumers are choosing drawdown lifetime mortgages, allowing them to access funds flexibly as needed.
This increase in product availability means homeowners now have a wider range of options to meet their needs.
Encouragingly, average interest rates have stabilised at a year-low, while loan-to-value (LTV) ratios for lifetime mortgages at age 70 are returning to pre-pandemic levels, allowing greater access to property wealth.
Over 15,000 customers were active in the equity release market for the first time since Q3 2023, either agreeing to new plans, making drawdowns, or securing further advances.
This renewed confidence is a positive sign for homeowners considering equity release as a solution.
Being recognized as a leader in later life mortgages motivates us to continue offering the best advice and service. Thank you for your ongoing support – we couldn’t do it without you!
If you’re curious about how equity release could work for you, feel free to reach out, we’re here to help.
Related Video (2:50): Mortgages for the Over 50s Explained
To view more videos like this, feel free to visit our MoneymanTV YouTube channel.
There you’ll find standard videos, as well as YouTube Shorts, answering questions, updating you on the current mortgage market and more.
We Can Help With:
- Age 50+ Mortgage Options
- Age 60+ Mortgage Solutions including Equity Release
- Bad Credit Deals
- Bridging Loans
- Secured Loans & Releasing Equity
- Self-Employed Mortgages
- All Purchase & Remortgage Deals
- Life & Critical Illness Insurances
- Pension Advice via a Referral Partner
