It seems to be a recurring theme as of late, but it’s been yet another week of volatile rates. Swap rates continue to move, and we’re seeing more and more lenders responding with minor increases as a result.
That said, it’s worth keeping this in perspective: rates are still in a good position overall, and this remains an ideal opportunity for clients to be getting on with things rather than waiting for a moment that may not come.
Holding off in the hope of a better deal down the line isn’t a good move at the moment, and there was a timely reminder this week as to why. The government has ruled out changes to Stamp Duty at the next Budget, and there doesn’t seem to be any return of Help to Buy either.
For anyone who’s been sitting on their hands waiting to see what the government might do, this removes one more excuse to delay, and it’s worth using that certainty to encourage clients who’ve been holding off to get on their plans to buy or move.
It’s also been interesting to see what other lenders are doing to push the market forward. Gen H is a good example, with the work it continues to do on innovation to support first time buyers, alongside its growing focus on later life mortgages.
It’s a reminder that even in a week dominated by rate headlines, there’s real momentum elsewhere in the market worth paying attention to.
Between the small print on rates and the bigger picture on policy, the message for clients this week is a consistent one: the conditions to act are there, and the ‘wait and see’ approach isn’t giving anyone an advantage.
