The Bank of England Base Rate is currently at 3.50% and is predicted to rise. Anything else as far as mortgages are concerned, is anyone’s guess. We are seeing mortgage rates start to fall and house prices are predicted to fall. But while it’s impossible to predict what will happen to the housing market, it is possible to ensure you get the right mortgage rate in 2023. And here’s how you do it.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
