2018 Mortgage Market

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This is where I write a few predictions and then in 12 months time take a look and see how wrong I was so let me detail how I think the 2018 mortgage market will shape up!

After writing about 2017, I thought it would be a good idea to look forward and see where we expect to be in 12 months time.

Our expectations:

Firstly, we noticed a large increase in “older” borrower enquiries in 2017, we expect that to be the same again in 2018 and in fact the next few years. This is a part of the market Mortgage lenders are beginning to dip their toe in to more and more so we expect to see a few more lenders loosening their criteria here.

Adverse, bad credit. This accounts for the majority of our business and with the number of expected to be up in 2017 over the year before, we do not see this slowing down. It is funny that the number of CCJs are up, but the average amount of a CCJ is down. We think this is because Mobile phone companies and utility companies are issuing more and more CCJs – although we could be wrong.

A rate rise! We are going to take the (not so?) bold step and say another 0.25% rate rise from the Bank of England is on the cards around the second half of the year. I read something this week that said the economy is doing a little better than expected and so if that carries on, it seems a rate rise is almost inevitable.

Lastly, Business as usual. Despite Brexit getting closer and closer, there is still a supply and demand issue with housing (ie Demand outstrips supply massively). We expect house prices to hold and another busy year.

So, heres to 2018 and getting you on the property ladder. Give us a call for a no sales spiel chat.