Pymm & Co Estate Agents in Norwich with Broadland Consultants Ltd bring you the Mortgage & Insurance News for Summer 2021
By Simon Gilvey – Broadland Consultants Managing Director
There is a great deal of positivity in the mortgage market with lender product choices now returning close to pre pandemic levels, and high loan to value mortgage product choices increasing
weekly with more and more lenders comfortable to return to the market to offer smaller 10% or 5% deposit mortgages.
As the Bank of England base rate remains at 0.1% (June 2021) there are some amazing opportunities for those with larger deposits of 35% or more, being able to achieve mortgage interest rates as low as 0.99% for a 2 year fixed rate deal.
For those that are able to put forward a 25% deposit, rates are still incredibly competitive with mortgage rates as low as 1.05% for a 2 year tracker rate deal.
Highstreet lenders are now also looking to support potential borrowers further with other positive criteria changes, with some lenders being able to offer up to 5 X income for applicants that meet the required criteria.
For employed applicants, with variable income such as commission, lenders are now also returning to market with mortgages that can potentially use 100% of the variable income as part of their income calculations.
Live Search For A Mortgage Deal Here: https://www.broadlandconsultants.com/search-mortgage-deals/
If you would like to know more, and you require our help, please get in touch and our expert team can quickly research the market for your client(s) for the best possible mortgage and insurance deals.
‘For Mortgage & Insurance products to understand more please request an illustration from us for your specific circumstances. Mortgage & Insurance rates are subject to status, and your specific personal/financial circumstances. Mortgage & Insurance products are subject to change. You must maintain payments on debt secured against property or your property could be repossessed.
Broadland Consultants Limited is an appointed representative of SANLAM PARTNERSHIPS LIMITED, which is authorised and regulated by the Financial Conduct Authority. FCA No. 521208. Please note: the FCA does not regulate in relation to the sale and purchase of investment property.. Company No. 05599047