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As was first seen a couple of weeks back, the Bank of England are holding the base rate at 4.25%.
This outcome had been widely anticipated and reflects a market that’s finding its footing after a turbulent couple of years.
Mortgage rates have now settled around the 4% mark, either just under or slightly above, depending on the lender and loan-to-value.
For many people, this has brought a bit more predictability to monthly repayments, with some finding that buying is now on par with (or cheaper than) renting.
Property values remain stable. In some parts of the UK, especially across the North West, we’re even seeing moderate price growth of around 3%.
Ours is a market that craves stability and we do seem to have that at the moment despite a seemingly unstable global picture!
Our mortgage advisors continue to speak with a wide range of customers, from those looking to remortgage, to others taking their first step onto the ladder.
With rates holding steady and market confidence slowly returning, this period of calm is a welcome change.
Rethinking Mortgages for Older Borrowers
More homeowners are now reaching their 50s and 60s still carrying mortgage debt.
For many, property wealth has overtaken pensions as their biggest financial asset, which is why age 50+ mortgage options are becoming more important than ever.
The Financial Conduct Authority has raised questions about how the industry supports older borrowers. One area under review is how advice is delivered.
For customers, the journey can often feel disjointed, especially when different professionals handle separate parts of the conversation.
There’s also a growing need to rethink how affordability is assessed.
Someone with a 25-year mortgage track record may be in a strong position, even if their income in retirement is lower. Recognising that could lead to more flexible outcomes.
Mortgage brokers, IFAs, care planners and specialists all have a role to play in making these products feel more accessible and less like a last resort.
As the market continues to grow, a simpler and more connected approach could help more people use property wealth in a way that supports how they want to live.
Our mortgage advisors are already part of that effort, supporting customers who want to explore their options with clarity and confidence.
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
