As many of us return to work from our much needed holidays, we are seeing some intriguing data and noteworthy developments in the mortgage sector.
According to the latest figures from the Bank of England, there has been a nearly 10% decline in mortgage approvals in the past month alone.
This has coincided with multiple lenders reducing interest rates and relaxing lending criteria. HSBC for example is now offering 40-year mortgages to a variety of applicants, including first-time buyers and buy-to-let landlords.
And Barclays, Halifax, Nationwide and NatWest are among other major lenders to have cut their fixed-rate loans over the last three weeks.
Could these developments indicate a broader shift in the industry, perhaps signalling that lenders are increasingly open to doing business under more flexible terms?
If you’re contemplating your mortgage options and would like expert advice, please don’t hesitate to reach out via our contact form or call us directly at 020 3645 4322.
About The Author: Sunny Budhdeo
With a career that spans over 20 years, Sunny initiated his journey in the mortgage industry as an adviser at the prestigious estate agency Barnard Marcus. He quickly gained recognition for his expertise, particularly in specialist finance, focusing on complex buy-to-let loans and bridging finance. As the Co-Founder of Unique Property Finance, Sunny has become a linchpin in the industry, adept at solving intricate property finance issues and fostering strong relationships with lenders.
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