Market update: November 2022
Published 1 December 2022. Market conditions, rates and lender criteria change over time, and this article is general information, not advice. For advice on your situation, speak to the team.
Lenders were reducing rates again after the autumn, and product availability had returned: most lenders were back at full capacity.
Stress tests and rent
Stress tests were higher than before because many new rates were higher than previous stress rates, which could limit how much you could borrow on a buy-to-let. If you have a new tenancy in place, make sure you know the market rent.
Remortgaging
If you are remortgaging, get in touch with your adviser at least six months before your mortgage end date. Some lenders let you secure a product up to six months in advance, and even if they don't, you can review your options and plan. We contact our remortgage clients around seven months before their end date.
As you can see, it really depends on your circumstances. If you'd like to talk it through, please get in touch.
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Book an appointment at a time that suits you, call the office, or ask us to call you back. We are here to help.