Trinity in the Financial Times - Best buy mortgage rates unlikely to get any cheaper

by Aaron Strutt

Dec 29 2013

The Council of Mortgage Lenders (CML) is expecting the mortgage market to improve throughout 2014.

Many of the lenders are offering their best ever mortgage rates and it is unlikely they will get much better.  Bob Pannell, the CML's chief economist, told the Financial Times that the current rates were “close to as good as it gets for interest rates.”

The Council of Mortgage Lenders expects a rise in gross mortgage lending from an estimated £170bn this year to £195bn in 2015. If they are correct, the increase in gross lending would take it to the highest level since 2008.

The availability of mortgages has improved considerably over the last year and many of the lenders are particularly keen to lend to all types of borrowers. This is assuming they have a decent deposit and a clean credit history.

Aaron Strutt, of Trinity Financial told The Financial Times: “It's hard to see rates not going up slightly over the next few months, but some of the banks seem confident that they're still going to be offering particularly low rates.”

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December 29, 2013