Residents and home owners of Coventry and Warwickshire
At Cotswold Independent Financial Services our mortgage advisers thrive on helping the residents on Coventry and Warwickshire with their mortgage needs. Whether they are mortgaging an existing property to raise finance for their business, funding a buy to let property in an increasingly complex tax environment, or coming to the end of a fixed term and unsure what to do next. No set of circumstances are the same and it is our job to source the most suitable and cost efficient on the market.
To fuel our expertise, we also keep up to date with the mortgage trends and news. Therefore, we were interested to ready UK Finance’s forecast for this year and next, which includes the following insights. They are more optimistic than a year ago, because of the competitive nature of the mortgage market, with interest rates close to historic lows.
First-time buyer numbers have performed better than we had expected over the course of 2017, helped by government schemes, good credit availability, and competitive mortgage rates. We expect to see a continued recovery in first-time buyer numbers, though at a slower rate than seen over the last few years.
Home mover activity has also performed a little better than expected, but still only likely to match levels over the past three years. We expect mover activity to remain at this level over the next two years.
Buy to let activity has been weaker than we expected a year ago, with activity back in 2012 territory and looking unlikely to recover in 2018 or 2019.
Remortgage activity in the homeowner space has been stronger than expected, with our updated forecasts reflecting this.
Property transactions have recovered somewhat over the course of 2017 helped by first-time buyer numbers, but this recovery only brings activity levels back to where they have been over the last few years. Looking ahead, we expect overall activity to be flat over the next two years, in part a result of the economic uncertainty. Read their full overview