New Mortgage ranges on offer in 2018
While many people predicted that the Bank of England would increase their base rate, when it happened in November of 2017, it took some people by surprise. Even the people that predicted it would happen have had to react and for many homeowners, the increase in monthly mortgage payments would not have been pleasant.
It is not just homeowners with variable rate mortgages who need to adapt to the new base rate, mortgage lenders have had to react too. This can be seen in the number of lenders who have tweaked or replaced their previous mortgage offerings. With a belief that interest rates will rise again in 2018, now would be the time to act if you want to secure a better deal for your long-term payments.
Find the mortgage that works for you
This means you will want to review the new mortgage ranges on offer. Of interest may be the offering from Marks & Spencer. This is a company that most people are aware of, but it’s financial arm, M&S Bank, is perhaps not as well known. It is still a brand that many people have used before though, and 2018 sees the company entering the mortgage market for the first time.
As you’d expect, the mortgage range on offer includes fixed rate and tracker rate mortgages. The mortgages on offer to first-time buyers will be of interest. This is an area of the market where assistance is required, and many people will have an interest in what M&S Bank is offering.
Incentives for first time buyers will include free valuations, cash-back offers and even 60% to 90% LTVs. With the company donating to Shelter for every mortgage completed, this is a fresh take on mortgages, and if you want the best advice on mortgages and the property market, contact Liberty Gate on 0115 824 8333.