40+ Years Of Experience
Gordon Blair Mortgage & Insurance Brokers
Mortgage & Protection Brokers - Norbury & Streatham
What’s Going to Happen to Mortgage Interest Rates?
A Volatile Mortgage Market
The last year has been one of the most unpredictable periods in the mortgage market for decades. Just a year ago, we were securing fixed-rate mortgages for clients at below 1%. At the peak only weeks ago, those same fixed rates surged above 6%.
Fortunately, there’s positive news. Over recent weeks, most lenders have started to reduce their rates, and the market has shown signs of stabilising. Even the latest Bank of England base rate rise didn’t trigger the panic we saw earlier in the year, when lenders were withdrawing deals without notice.
What We’re Seeing in Streatham and Norbury
In our Norbury high street office, we’ve had a steady flow of new and existing clients coming in to talk about interest rates. It’s clear this is the hot topic in the community. The encouraging news is that banks and lenders are keen to attract borrowers, with offers such as:
Free valuations
Free legal transfers on remortgages
Cashback on completion
These incentives can make a significant difference, especially if you’re weighing up the cost of moving or refinancing.
Why Now Is the Time to Plan Ahead
If you have a mortgage need for 2023 and beyond, preparation is key. Whether it’s a remortgage on your current property, purchasing your first home, upsizing to a bigger property, or buying an investment property, the right planning makes all the difference.
Working with a mortgage broker in Streatham or Norbury helps you:
Agree on a realistic budget.
Choose the most suitable mortgage type.
Compare lenders and secure the best fixed or tracker rates.
Organise an Agreement in Principle (AIP) to strengthen your position with estate agents.
Why Use a Mortgage Broker Now?
In a changing market, your mortgage broker becomes your strongest ally. We can secure competitive deals, explain lender incentives, and give you confidence that your finances are in order before you make a move.
At Gordon Blair Financial Services, our team of advisors are here to guide you through today’s market with clear, expert advice. Visit us in our Norbury office (SW16), call us on 0208 715 7267, or get started online at gordonblair.co.uk