Property Market Outlook – What to Expect in 2022

As 2021 draws to a swift close, there is much speculation about what 2022 will have to offer.

Many of us are asking questions like, will interest rates continue to rise in 2022? Can I secure a mortgage if I’m self-employed? How has COVID-19 impacted lending? Do I need to take action to comply with new regulations like the Minimum Energy Efficiency Standards?

On the 16th December, The Bank of England decided to increase interest rates back up to 0.25% from record lows of 0.1%. This comes in the face of soaring inflation and is the first rise in nearly three years. Lenders are already increasing their rates and it is quite likely that the Bank of England will raise rates again next year.

This is a good opportunity, therefore, for landlords to be thinking about saving money with a low rate remortgage.  

This ties into new property regulations like the minimum Energy Efficiency Standards. Many landlords are now thinking about how to bring their properties up to the minimum C Energy Performance Certificate. If you’re considering a remortgage this might be a good time to discuss raising further funds to cover works on the property.

Some analysts and industry experts believe that house prices will continue to rise in 2022, supported by the recovering economy, improved employment and wages and a booming first-time buyer market, fueled by the government’s Help to Buy scheme.

Whatever the year may bring, our award-winning team will be available to discuss your requirements and provide you with the advice, guidance and support you need to achieve your targets. Get in touch with us today on 0208 364 3444 alternatively click the schedule a call back button below to book a time slot that suits you.

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