Posted by: katalysis
Good news! Apparently “buyers now have over 23,000 different mortgage products to choose from. A figure last seen during the heady days just before the housing market slowdown in 2008.” (Wasn’t it a financial crisis followed by recession?) “Product availability has increased for 18 consecutive months now and consumers continue to benefit from rates which remain close to all-time lows” reported MAB.
In further good news, the FCA’s recent post-MMR review with lenders announced “no obvious issues and all is working fine.” However (The bad news!) the AMI polled its intermediaries and most felt there was an increasing “issue with mortgage prisoners” and “a quarter of those felt the problem was getting worse”. However “whilst interest rates remain low, the issue is unlikely to surface significantly.”
So it seems if you're ‘squeaky clean’ and can jump through all the necessary hoops, now may be a good time.
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