Mortgage Rates and Gloucester Property Market
Posted on 26th July 2024 at 13:04
Good news for homeowners and those looking to move home or get onto the property ladder as a number of lenders drop the cost of their mortgage products.
Speculation is growing that the Bank of England could opt to cut the base rate for the first time in four years next week and ahead of that Nationwide has just re-introduced a sub-4% fixed rate mortgage.
Barclays and TSB are the latest lenders to cut their fixed rate products following a number of other lenders who did so earlier in the week, suggesting a summer price war may be on the cards as they look to fight for your business.
Despite the start of the school holidays, traditionally a quieter time in the property market, there has been good levels of interest shown in properties coming to the market here in Gloucester, so if you are considering selling then it may be an optimum time to do so.
These latest rate reductions are certainly great news for borrowers and reflect strong market competition, whilst the activity being seen points to a continued confidence amongst people wanting to move home.
If you are unsure or have any questions, then feel free to call 01452 260 993, message us or email enquiries@rbwalters.co.uk.
Tagged as: Mortgage Advice, Property Market
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