Inflation holds at 3.8 per cent

2 days ago

1 min read

Rachel Geddes, strategic lender relationship director at Mortgage Advice Bureau comments on the news that inflation has held at 3.8 per cent:

"While inflation holding steady at 3.8 per cent reflects the persistent pressures from political uncertainty and elevated costs, the mortgage market continues to remain resilient. In fact, many don't realise they’re now in a prime position to get onto the property ladder – especially compared to this time last year, or even six months ago.

“A ‘keep calm and carry on’ approach is needed here. While inflation remains well above the two per cent target, the housing market remains in a strong place, and more aspiring buyers than ever are realising that they can get on the ladder sooner.

"Affordability is improving, and customers are benefiting from higher average borrowing limits and a wave of new, innovative products. First-time buyer appetite is strong, with a 9.7 per cent uplift on the number of mortgage applications year-to-date.

“Wherever you are in your homebuying journey, your first step should always be to speak to a broker. Their expertise will help you to navigate the market and secure a deal that suits your current financial situation."

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