At Edgefold Homes, we’re always looking for ways to help you find the perfect home, and we’re thrilled to share some exciting news from our trusted partners, ParX Mortgage and Insurance Services.
They recently shared insights on how lower mortgage rates can significantly impact the housing market.
Here’s what they had to say:
Lower mortgage rates can stimulate demand for housing, as homebuyers find it cheaper to finance their purchases. Potential homeowners may be more inclined to buy property, given the lower cost of mortgages. This can lead to a surge in home sales, benefiting builders and developers.
The immediate impact of a drop in interest rates by the Bank of England is likely to be positive for the building industry, with increased borrowing, investment, and demand driving growth.
The drop in interest rates opens up exciting possibilities for those looking to purchase new build properties. Increased affordability, better mortgage deals, and enhanced investment potential make this an attractive time to enter the market.
However, as with any significant financial decision, it is crucial to conduct thorough research and consider both the opportunities and risks involved. By doing so, you can make a well-informed decision and potentially secure your dream home at a favourable rate.
— ParX Mortgage and Insurance Services
If you’ve been considering purchasing a new build property, now might be the perfect time to take the plunge. With reduced mortgage costs and several lenders offering new five year fixed rate deals under 4%, this period offers a golden chance to enter the housing market.
At Edgefold Homes, we’re committed to helping you navigate these opportunities, ensuring you make an informed decision that aligns with your financial goals and home ownership dreams.