The housing market is still thriving however the rate of applications for mortgage has been up and down recently.
According to the latest figures, the rate of mortgage approvals has shown that April was a strong month and is up in terms of year-on-year figures.
Although the rate approval rate was up, this was mainly down to re-mortgages rather than first-time buyers however, the overall approval rate was up by 30% on the previous year.
It was good news for the mortgage market as the previous month of March has shown that the amount of mortgage approvals was actually down in comparison on the previous year.
The results wait to be seen for the month of May and it will be interesting to see the results as the Bank of England chose not to increase the Base Rate. Although the Bank of England can choose to keep the Base Rate at the same level there is nothing to stop mortgage lenders altering the interest rates they offer to prospective customers.
Many Brokers expect to see rates increase over the summer months and so what better time to fix into a great mortgage deal?
Speaking to a Mortgage Adviser can help you understand your options and also assist in finding you the best mortgage deal for your circumstances. Give the team a call today on 03333 44 85 11 or complete the form below and an Adviser will be in touch as soon as they can.