Rents Up, Mortgage Rates Down

As rents surge and the mortgage rate war hots up, eligible borrowers should seriously be considering a new mortgage or product switch.

We continue to see positivity across the property and mortgage sectors, with consistent month-on-month falls in average fixed rates and record-low, sub 1% fixed rate deals launching recently.

New data from Goodlord suggests that Average rents in England increased by more than 10% in the month to July, with the South East (7%), the East Midlands (6.8%) Greater London (4%), and the West Midlands (3.5%) recording healthy rises

Voids are also at their lowest level since August 2019, and tenant salaries are at their highest since the index began in 2014.

And research from buy-to-let lender Paragon is further encouraging. Paragon reports that the average number of tenants in rent arrears are at the lowest point for ten years and the amount of outstanding rent is at the lowest since 2017.

Take Action:
It would be wise for you to speak to us about the options that may be available to you. Even if your existing lender is unable to offer a new deal, we may be able to source a more suitable and competitive mortgage elsewhere.

We encourage you to contact our senior mortgage broker Danny O’Keeffe on 0208 364 3444 or use the schedule a call back tab below to arrange a time to discuss your options.

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