That’s a wrap! Our last Spread the Word of 2023.
📣 LAUNCHING THIS MONDAY 4TH DECEMBER - Enter our festive competition to win a £150 Christmas shopping voucher. All details on Facebook and Instagram
Merry Christmas from all the team
Wishing you a happy and healthy festive period - wherever and however you celebrate! We’re so proud that our team and extended broker network have continued to grow in 2023, enabling us to help more homeowners, first-time buyers and property investors. Thank you for choosing Stratton Thorpe Mortgage Solutions and all our broker colleagues, and we look forward to supporting you in 2024. From Julian, Peter, Olga, Dan & Helen 🎄
5-STAR reviews & referral scheme
Throughout 2023, we’ve received some fabulous feedback. Thank you to all our wonderful clients. We'd love to hear from you if you haven’t already given us a review.
Also, don’t forget about our Referral Scheme. You can earn a £50 voucher for passing on our details to your family, friends and colleagues.
mortgage NEWS & UPDATES
Base rate frozen at 5.25 per cent as inflation set to hit target by end of 2025
The Bank of England has held the base rate at 5.25 per cent for the second time in a row, as forecast by industry experts.
The Bank’s Monetary Policy Committee (MPC) voted by a 6-3 majority to maintain the base rate at 5.25 per cent. Three members preferred to increase it by 0.25 percentage points to 5.5 per cent.
The move was widely predicted, with experts now suggesting they may have peaked.
It follows on from inflation in the year to September recording a ‘sticky’ 6.7 per cent, while the UK economy is estimated to have grown by 0.2 per cent in August, resisting a technical recession once more.
SOURCE - MORTGAGE SOLUTIONS
Zero Deposit 100% Mortgages for first-time buyers
Calling first-time buyers in rental properties or anyone who hasn't owned a property in the last 3 years. If you're struggling to save for a mortgage deposit while paying your rent, 100% mortgages (no deposit) are now available for those with a solid track record of renting and a strong credit score.
For Track Record Mortgages, lenders consider your rental payment history. If you meet the affordability criteria, you can access a mortgage without a deposit
Eligibility criteria include:
· Applicant hasn't owned a property in the UK in the last 3 years
· Applicant is aged 21 or over
· Sole applicants should've paid all rent for 12 months in a row within the last 18 months. The lender may also want to see proof of payments of household bills
· Deposit must be less than 5%, the maximum loan size is £600,000 and not available on New Build flats
Book a free, no-obligation initial consultation with Stratton Thorpe Mortgages Solutions to learn more about Track Record Mortgages.
Market sees largest choice of mortgage products for 15 years – Moneyfacts
Homeowners looking for a mortgage can now access the widest range of products on the market for 15 years, research reveals.
At the beginning of November, there were 5,678 mortgage products on offer for borrowers — the highest amount since March 2008, according to Moneyfacts’ data.
And for buyers with a lower equity amount, there are the most deals available since September 2022. The number of deals that can finance a loan-to-value (LTV) of 95 per cent rose to 254 and surged to 709 for mortgages up to 95 per cent LTV.
Further, the choices on offer for first-time buyers, households’ remortgaging and home movers have shot up for the fourth consecutive month, leading to Moneyfacts lauding a ‘thriving mortgage market’.
After a fourteen-month spell where the Bank of England hiked the base rate up to 5.25 per cent to combat inflation, experts are confident the market is steadying and buyers will get value for money on their mortgage deals.
