Get a Cheaper Mortgage for Christmas

The recent speculation about a possible rise in interest rates has not dampened enthusisam and activity in the housing market, and has also not prevented banks and other mortgage lenders in coming out with some Christmas-cracker mortgage deals.

House prices continue their strong run with the most recent Halifax House Price Index showing UK house prices rose again in November, with the value of the average property increasing by another 1%, or £2,808, tipping the annual rate of inflation up to 8.2%.

This is the fifth straight month that Halifax have seen average house prices rise, with typical values up by almost £13,000 since June, and more than £20,000 since this time last year.

Halifax commented: “On a rolling quarterly basis the uptick in house prices was 3.4%, the strongest gain since the end of 2006, bringing the new average property price up to a record high of £272,992. Since the onset of the pandemic in March 2020, and the UK first entering lockdown, house prices have risen by £33,816, which equates to £1,691 per month".

This chart, text and graph is the copyright of Halifax plc and is reproduced from their website november-2021-halifax-house-price-index.pdf.




What this means in practice is that rates are very attractive for people wanting to move and for existing homeowners thinking about a re-mortgage, they may well have more equity in their current home than they think.  This helps a lot, as many of the best deals require a sizeable deposit.

One of the most eye-catching deals we have spotted at the moment is a 5 year fix at just 1.32%.  Rates like this just can't be around for ever, so if you are interested in getting an early Christmas present, by finding out how our independent 'in-house' broker could reduce your monthly repayments, please give us a call on 01983 525710.  A lower mortgage isn't just for Christmas of course - it gives you more money in your pocket throughtout 2022 and beyond.

Don't miss out!



Here's the small print and the legal bit:

Mortgage Products & Packages are subject to change at any time. The figures illustrated here were correct as at 15.12.2021  The actual amount you will pay will depend upon your individual circumstances as certain criteria, restrictions, and terms & conditions will apply.  Mortgage Advice is provided by Prospect Mortgage Services Ltd who are directly authorised and regulated by The Financial Conduct Authority. Registration Number 647962
Your Home May Be Repossessed If You Do Not Keep Up Payments On Your Mortgage or any other debt secured upon it.