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What Now For The Mortgage Market Post Brexit?

Reports this week have suggested that the downturn in economic fortunes for the UK, if we voted out of the EU, have not materialised as expected. There has been endless commentary about the property market but how does financing a house purchase fare currently? 

With new 5 and 10 year fixed rates launching into the market place and long term rates at their historically lowest level, lenders would appear to have confidence in the market post brexit.

The market remains competitive with low stock levels, in fact our town centre offices achieved over 30% more sales in August this year compared to the same month in 2015. 

Putting yourself in the best position to apply for a mortgage, in competitive market conditions, is very important and Bill says that these simple tips will help: 

Make sure your credit file shows your current address.

Register on the electoral roll if you are not already on it.

Go through your bank accounts and make sure they are staying in credit.

Set up direct debits and get organised to ensure you pay bills on time.

Bill commented "Around three quarters of mortgages are done via brokers now as we have access to whole market, extensive knowledge, contacts and systems needed to identify which lenders a client would be eligible for. It's vital to get your credit file in order and get early advice on all your options."

If you would like further advice please contact us to book an appointment with Bill.

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