03 Oct Secure that mortgage deal now, right now.
After consistently improving lending conditions this year, we are seeing the first signs of things getting worse.
If history does repeat itself, it seems a sure bet that when Europe and its banks collapse (any time very soon), then this will have an impact on UK lending.
This can manifest itself in many guises, less products, more expensive lending, down valuations and of course the most boring of all – never ending layers of underwriting.
Last week we saw tightening of lending conditions from a major High Street lender, withdrawal of high loan to value products from Northern Rock and increases in tracker rates from Woolwich.
If you have a mortgage up for renewal in the next 6 months – we suggest you take advantage of today’s great rates and (comparatively) easier conditions. You can then sit on this offer and feel smug as you see it all unfold!!
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