After many years of rising prices, the UK housing market is showing signs of a slowdown, but this is still a good time to look for mortgages in Sutton Coldfield. Figures from the Halifax House Price Index1 show that mortgage approvals are down and transaction levels have fallen. Russell Galley, Halifax Managing Director has said that house prices remain broadly flat, and the annual rate of growth has slowed to 1.8% in February which is the lowest rate of growth since March 2013.
Although house prices are flat, if you are looking at mortgages in Sutton Coldfield you should still bear in mind that employment levels are remaining high, and mortgage rates low by historic standards. And, importantly, none of the major mortgage lenders is currently expecting prices to stage a major decline.
So if you already have a home loan and are looking to move the price you get for your house could well be balanced out by the price you pay for your new home.
As house prices are flat you may be thinking about home improvements or building an extension, so you might still be looking at mortgages in Sutton Coldfield. It is also worth pointing out that if you already have a mortgage we recommend that you review this from time to time to make sure you have the right mortgage for you, especially if over the years your circumstances have changed.
Your home may be repossessed if you do not keep up repayments on the mortgage.
At Four Oaks Financial Services our Advisers are experts in searching out the most appropriate mortgage for your specific individual circumstances. We work with a wide range of lenders, some of whom are not found on the high street.
Your first meeting with one of our qualified mortgage Advisers for mortgages in Sutton Coldfield is at our cost and without obligation. Please call us to discuss your requirements.
1 Halifax House Price Index, March 2018