Steady growth will please expats
The first half of 2017 saw average house price growth rise by 5.1%, which when compared to the average term savings account is very good indeed.
Despite the overall incline London house price growth fell by 2.6% to the lowest level for more than five years. Experts seem to think the capital has reached its peak for the foreseeable future. The Brexit impact was greatest over the second half of 2016 but house price growth has picked up over the last six months and continues at a consistent rate.
Birmingham and the Midlands is the fastest growing area currently with 7.8% annual price growth which is supported by record low mortgage rates and falling unemployment.
House price inflation in the capital saw a year-on-year decrease of 10.1% due to affordability pressures and the impact of the Brexit vote on buyer sentiment. Although house price inflation has fallen sharply in the capital it is starting to flatten out.
Sound solid business growth
Expat mortgages are readily available with a good choice of tracker and fixed deals, word on the street is rates could be about to rise as rumours increase within the industry. If you are an expat wanting a new or have a mortgage deal maturing acting now could save you money in the future. Fact is many expats do not review their mortgage deal when its discount period ends and this is a very big mistake. It only takes a phone call or an email and you could save 100’s a year.
Can we help?
If you are looking for a new or re-mortgage please do make contact and one of our fully qualified advisers will be happy to assist.