In a welcome development for potential homeowners, we are pleased to highlight the recent mortgage rate drop announced by leading lenders. The news comes as a promising opportunity for those aspiring to step onto the property ladder, with mortgage payments potentially becoming more affordable.
Halifax, the UK’s largest mortgage lender, has taken a significant step by announcing a substantial reduction in rates on select fixed mortgage deals. This move is anticipated to alleviate financial pressure on existing homeowners and potentially attract a wave of new buyers. Effective from Friday, Halifax is set to slash rates by as much as 0.71 percentage points, resulting in a noteworthy adjustment in the financial landscape. A prime example is the five-year fixed deal, now priced at 5.39%, down from the previous 6.10%*.
James Rennison, Managing Director of Kendrick Homes, expressed his enthusiasm for the recent rate drops, emphasising the importance of affordability in the housing market.
“At Kendrick Homes, we understand that purchasing a home is a significant milestone, and favourable mortgage rates contribute significantly to this process. We are delighted by the rate reductions, as they align with our commitment to providing high-quality, luxurious homes that cater to various needs,”
James continued
“We have a wide portfolio of high specification homes across multiple developments, with many homes ready for occupancy. What’s more, with our current incentives available including stamp duty** and free flooring**, there has been no better time to reserve with us! ”.
For all mortgage queries, contact our preferred independent mortgage broker, Simon Snape on simon@newgatefinancial.co.uk
Sources
https://www.bbc.co.uk/news/business-66459129
*rates correct at time of posting, please obtain independent financial advice for all mortgage queries.
**Offers vary depending on development, contact us for more information.
