Our doors may be closed, but we’re still here for you. In line with government advice on the outbreak of Coronavirus (COVID-19), all our Whitegates branches will be temporarily closed until further notice. The health and safety of our staff and customers is, of course, our number one priority. But while we might not be able to see you, we are still here if you need us. The Whitegates teams are all working remotely, ensuring we can provide continuous support for all our customers. Please email your nearest branch directly through the website and, most importantly, stay safe and healthy during these difficult times

Fixed-rate mortgages 'likely to get even cheaper' following Brexit

Fixed-rate mortgages 'likely to get even cheaper' following Brexit

A fall in gilt yields will reduce the cost for lenders of longer term funding and hence open the door for even cheaper fixed rate mortgages, according to Ray Boulger of John Charcol.

Given that most mortgage lenders did not pass on much of the pre-referendum reductions in rates, Boulger expects to see greater price competition, especially in the longer term fixed rates, helping to push already cheap fixed-rate mortgages to new lows.

He forecasts that many lenders will follow HSBC's lead and slash five-year fixed-rate mortgages priced to below 2% - perhaps at around 1.95% - and advised those thinking about taking out a fixed deal to "hold off for a week or so and see where the market settles down".

However, he acknowledged that might be easier for those looking to remortgage than people trying to buy a house right now.

A longer term look at implications for the housing market suggests demand for property will continue to increase, Boulger added.

"Until we actually leave the EU, immigration is likely to continue especially in the run up to any potential tightening of border controls."

Article courtesy of Landlord Today | Sign up for Landlord Today newsletter | Get this news on YOUR site!