Turbulent times in the mortgage market

For our clients who have their mortgage renewal approaching, it’s natural to target a better – lower – rate. After all, who doesn’t love a great deal? But how do you know which product to choose at a time like this?

As March began, the goal for stability in the financial markets shifted as a level of uncertainty flooded in. And as far as mortgages are concerned, a recent piece by the Financial Times accentuated exactly what most of us are feeling right now. That there is undoubtedly a feeling of ambiguity in the present mortgage market, not just in the UK but also globally.

The past reveals how globally interconnected we are. And the current situation shows that we are moving into an era where we will be more interconnected than ever before. Previous events have consistently proven that what happens in one part of the world can have ripple effects on global economic markets and that’s precisely what we are experiencing now.

As a result, clients who are looking to renew their mortgage are, understandably, asking questions about which way to go. Should I choose a fixed rate or a tracker rate? If a fixed rate, do I secure a 2, 3 or 5 year rate as the market is unstable? What option (fixed or tracker) will give me the best position so that I’m not at a disadvantage when the market improves?

As always, with financial questions, there’s no ‘one size fits all’ solution. The weight of these questions and more is why it is so important to speak to your financial adviser.

Now, none of us have a crystal ball, but we know your circumstances and we can chat about what you want to achieve. Combining this understanding with the fact that we are always researching the latest products means we can help you make informed decisions.

You are not alone in these unstable times; we’re here to help you find the solution that meets your specific goals. So, please do get in touch.