Market Update - March 2024
Sam Norris, CEO of UnionX Group, Managing Director of Grand Union Finance & our Strategic Partnerships Adviser at Let’s NVST shares his monthly market update.
Mortgage Market: Rates Steady, Activity Up
The mortgage market has stabilised after the initial scramble for market share in early 2024. Rates remain attractive compared to 2023, presenting an opportunity for investors seeking financing. As property market activity shows signs of picking up, expect competition among lenders to increase, potentially leading to more competitive rates.
Recession Concerns Linger, Base Rate Watch Continues
The ongoing recession might dampen investor sentiment, but the Bank of England's focus on inflation keeps the base rate on hold. This translates to a predictable borrowing environment. Careful cost management remains important, but stability allows for strategic planning.
Bridging Finance: Faster Approvals with Evolving Tech
Bridging finance continues to be a valuable tool for investors. Technological advancements like automated valuation models (AVMs) are streamlining the process. AVMs use AI to estimate property value, potentially eliminating the need for physical valuations. This translates to faster loan approvals and potentially lower costs, benefitting investors seeking swift and cost-effective financing.
Contact us today for a free consultation and unlock the full potential of your property investment journey through tailored financial advice.
Email: info@grandunionfinanceltd.co.uk
Phone: 0121 828 1400
