However, to keep inflation within the agreed targets we predict that the next rise could come in the third or fourth quarter of 2018. The Bank of England Governor, Mark Carney has offered many reassurances that rate rises will be slow and with the latest increase hoping to slow inflation, it is unlikely that we will see a rise in the first half of 2018. Fundamentally, the economy will see depressed growth compared to what might have been, although pent up demand will come through in time. With the Brexit divorce still 18 months away, there will be a great deal of uncertainty which the policymakers with do their best to deal with. So what do we think 2018 will have in store for the mortgage market? By August the comparable figure was closer to 1:17.** Before the changes in March 2016 the activity levels were roughly 1:10 mortgage transactions by Landlords. We also commented that SWAP rates were rising and therefore we thought fixed rate mortgage rates would rise – again we were accurate as swap rates rose sharply in September and as a result the fixed rate market increased their rates.įinally, with so much of our business being in the Buy to Let arena, we were concerned that the changes to landlord tax relief would impact the market, and this prediction was correct. We knew that Bank of England governor, Mark Carney would tolerate high inflation to prevent a base rate rise and thought that we would not see a rise in 2017, however, on 2 nd November we saw a quarter percent rise, for the first time in over a decade. We predicted correctly that inflation would finish at around 3 - 4% at the end of 2017, and the current rate at time of going to press is 3% - the highest seen since 2012. We suggested that the Chancellor would reduce stamp duty to stimulate the market in his Spring budget, however we had to wait for the Autumn budget to see him reduce stamp duty for First Time Buyers only. ……but first a look back to what we predicted for 2017!īefore we look forward to 2018 we wanted to start by taking a look back! At the end of 2016 we made some predictions for how the mortgage market would fair during 2017, so how did we do?ĭespite the uncertainty of Brexit, 2017 house prices have shown modest increases of 5.4%*, exactly as we predicted. Thank you again and I will have no hesitation in recommending your firm. Now it is in the hands of the solicitors. I have never had such excellent service before both sides of the Atlantic! I truly appreciated the promptness with which all the requests were passed on to me, and in helping me to fill out the forms. Both Simon Marsh and Tricia Clarke were gracious and helpful, and assisted me in every way possible. They were right on top of the situation and made me feel as if I was the only client they had. Having bought and sold property in England some years ago and then becoming a licenced commercial property broker in California, I was involved in arranging many mortgages both for myself and my clients. I set you a difficult task because of the many circumstances surrounding my refinance. Dear Edward, it was such a pleasure dealing with your firm, I wanted to make a special effort to write and thank you and your team for all your efforts. More than that, you were the key to us realising that we could actually move ahead on a let-to-buy basis, after I’d rather been discouraged by a previous conversation with another intermediary, so it’s no exaggeration to say that we couldn’t have done it without you. We were very impressed with how quick and responsive you all were. Once again, many, many thanks for the help provided by you and your team (especially Tricia). Very few people realised before how useful a broker can be. So many people have congratulated us on getting finance in place to buy without selling.
I would not hesitate to recommend Private Finance and I can’t praise the firm highly enough.
Service, delivered face-to-face or remotely, depending on what suits you. Mortgage solutions for our clients, providing a tailored one-to-one advisory With the key lenders in the UK mortgage market, including those private banks Private Finance is an independent mortgage broker that has strong relationships Mortgage or parental assistance to buy your first home. As a first time buyer, finding exactly the right mortgage for yourĬircumstances can be daunting, especially if you need a high loan to value
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