UK mortgage rates have started to rise in recent months, and it’s not surprising if this has caused some concern. However, this could actually be a source of comfort, as rising mortgage rates could help buyers and vendors in the long run and bring balance back to a market that was disrupted in 2020.
Mortgage rates in the UK still remain near historic lows, despite the skyrocketing rate increase in 2022 to keep up with widespread inflation. For homeowners and buyers, the recent minor rate increases should not fill you with dread, because the market continues to present plenty of opportunities. Therefore, if you’re considering buying a property now, or looking for cost-savings on your investment property, the market could be on your side.
While it’s easy to feel uncertain at first glimpses of a price rise, the statistics show that the UK property market is still in a strong position. Modest mortgage rate rises do not change the bigger picture of high demand and a market poised for continual growth.
Therefore, both buyers and sellers in the UK property market can remain confident that the sector is very stable and the outlook remains very bright.
Posted by Simon on May 26th, 2010
Posted by Simon on June 25th, 2010
Posted by Simon on November 8th, 2012