Rightmove’s mortgage expert reports that rate cuts are gathering pace, as lenders jostle for position at the start of the year. This can only be good news for those looking to move home and those whose fixed rate mortgage deal comes to an end soon.
Lenders are racing to offer the best mortgage rates since the disastrous mini budget at the end of 2022. Rates had already fallen for 20 consecutive weeks to the end of 2023, but the start of 2024 has seen average five-year fixed mortgage drop below 5% with HSBC becoming the first to offer a deal at 3.94%, which is good news for buyer confidence.
We’re in the enviable position of selling and renting property in one of Prime Central London’s busiest markets and we are already registering buyers looking for a property in and around St John’s Wood in 2024. If you’ve been thinking about a move but would like to find out more about the local market and the type of buyers and tenants we are registering, we can offer a free valuation and an excellent market appraisal.
We look forward to speaking soon.