It’s deja vu all over again


Looking back through our previous newsletters, I couldn’t help but see that last March I wrote almost exactly what I was planning for this one.

I spoke about how the outlook for the economy was brighter and that inflation was predicted to reduce, which should feed through to lower interest rates and eventually cheaper mortgages. And while this did happen last year, the consensus is that rates will reduce through the rest of 2024; let’s hope that is the case.

There have been plenty of rate movements by lenders over recent weeks, both up and down but nothing of any major significance. The feeling is that most rate increases have simply been lenders trying to slow the influx of applications they are receiving by being the cheapest on the market.

Inflation is reducing and should continue to do so, especially with the price of gas and electricity due to come down soon. If this does happen, then I’m sure you will see the Bank of England start to ease the base rate down a little. This positive news, along with the potential of some “pent up” demand in the housing market, should see a busy time for us all over the next few months.

Of course, there are no guarantees that this will happen, no one of course, can accurately predict the future. There are so many things around the world that can impact the economy in the UK, but let’s hope for stability for the remainder of 2024 (and beyond!)

Please get in touch with Barlow Irvin Financial Services award-winning team if you need expert mortgage and protection insurance advice.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.

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The Barlow Irvin Team

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