House prices are continuing to go up, increasing the need for purchasers to head to a mortgage lender or a mortgage broker to help them get the most reasonable mortgage for their circumstances.
Halifax has shown that prices rose by 2.4 per cent during February, making for a 7.9 per cent jump compared to the same month in 2013. In monetary terms, the average cost is just shy of £180,000 (£179,872), a whopping £16,000 more than a year before.
The lender`s Stephen Noakes remarks that "several factors appear to have boosted demand, such as the improved economic outlook, unemployment falling faster than expected, improvements in consumer confidence and low interest rates".
The improving conditions have also led to a greater number of house sales, which has also contributed to the increase in prices. Halifax`s figures show that sales rose for the ninth month in a row during January, while approved mortgages had shot up 42 per cent year-on-year.
However, Mr Noakes adds that household finances are still tight as earnings fail to keep pace with inflation, meaning that people could end up having less disposable income in real terms.
Because of that, it`s vital to ensure you get the most suitable mortgage for your circumstances, coming to a mortgage broker like first choice finance may give you some other options on which mortgage lender to use and we will give you advice and recommend a mortgage to you from our panel.
They provide a free illustration and a quote without obligation on a no offer no fees basis, so that you don`t have to accept it unless you are happy. Discover more at firstchoicefinance.co.uk or by ringing in to our adviser team, its 0800 298 3000 from a landline or 0333 003 1505 from your mobile.
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
First Choice are tied to certain loan providers.
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.