Mortgage Tips with Rippon Homes
We at Rippon Homes have teamed up with Evolve Financial Solutions to highlight the current state of the market and what homebuyers can do to help secure a mortgage for their dream home.
Jason Blunden, Managing Director at Evolve Financial Solutions, has some positive news ahead of the festive season with further cuts to lending rates. He said: “Evolve Financial Solutions are experiencing a busy Christmas period following further cuts to lending rates, which include a 4.64% fixed rate deal available with 85% loan-to-value.
“It’s been another week of reductions with Halifax once again cutting their rates along with various other lenders. Increased competition between lenders is delivering significant benefits to customers – last week, we helped one client change their fixed rate and saved them £58 per month over a five-year term. That’s around £3,500 saved just by switching their rate, which is fabulous news leading into Christmas.
“This increased competition is only good news for customers, as with more competitive prices, the more choice consumers have and they can benefit by switching rates and shopping around for the best price available on the market.”
This positive news is followed by other banks such as Barclays and Virgin lowering their rates to just under 5%, starting at 4.95% at 90%. The Nationwide House price index also rose for the third month in a row, lifiting to 0.2% to an average price of £258,557 in November compared to October.