Your mortgage and interest rate rises – our expert financial advice
The relentless rise of inflation in the UK has created a challenging environment for both homeowners and aspiring first-time buyers. As an independent financial adviser, we understand the pressing need to navigate these economic shifts and capitalize on the opportunities they present. In this article, we’ll explore the current market conditions and unveil strategic solutions tailored to homeowners and first-time buyers, ensuring you make the most informed decisions for your financial well-being.
Seize Advantageous Mortgage Options
While borrowing costs have been on the rise, there are still promising developments that can work in your favour. For example, lenders have reintroduced mortgages that require no upfront deposit, an exciting prospect for first-time homebuyers eager to step onto the property ladder and many who are remortgaging are now considering alternatives to fixed rates. Our expert team can guide you through these mortgage options, enabling you to secure a loan without the burden of a significant deposit, and empowering you to realize your home ownership dreams sooner.
Harness the Power of Expert Financial Advice
The consistent interest rate hikes by the Bank of England are worrying for existing mortgage holders, if you have a fixed-rate mortgage ending soon your payments could jump significantly if your lender switches you to their Standard Variable Rate (SVR).
Bank of England base rates are currently widely expected to peak at around 6% sometime next year so there’s an alternative to a fixed rate. You could go for a tracker mortgage that changes each month based on the Bank of England’s base rate. If the Bank puts up the rate, your mortgage rate will go up the same amount, however, if it comes down, your payments do likewise. The good thing about these is that if you see a better deal somewhere else, you can often switch with no penalty. Furthermore, our extensive network allows us to leverage competitive rates and provide you with the flexibility to switch to more advantageous deals effortlessly.
Empowering First-Time Buyers
Saving for a deposit amidst the escalating cost of living has become an arduous task for first-time buyers. However, there’s a silver lining tailored specifically to assist you. Some lenders have recently reintroduced the no-deposit mortgage, enabling buyers to finance the entire purchase price of their desired property without requiring additional guarantors. This exclusive opportunity is available to first-time buyers who have rented for at least one year and meet specific income and financial criteria. Our expert advisers can help determine your eligibility and guide you through the process, ensuring you’re equipped to take advantage of this unique offering.
In an ever-evolving and quickly moving economic landscape, it’s vital to remain well-informed and explore the full range of options available to you. As an independent financial adviser, our mission is to empower homeowners and first-time buyers with the expertise needed to navigate the challenges posed by rising inflation, interest rates and dynamic housing market conditions. Whether it’s identifying the optimal mortgage solution or capitalizing on exclusive opportunities for first-time buyers, our dedicated team is committed to guiding you towards financial success by helping you understand the options available. Contact us today and unlock the potential that lies within our specialist mortgage services.
Founded in 2017, Fintuity has fast become one of the only digital Independent Financial Advisers (IFA) in the United Kingdom. We offer all the services of a traditional IFA but via our secure online platform. Fintuity offers a wide range of financial advisory services including pensions, protection, investments and mortgage advice. The key difference is that as an exclusively digital service we can offer significant savings and a service that is direct to you and on demand.
