Summary of 2017 and our predictions for 2018
Initially, let’s look back over 2017 with a short round-up of key industry news. Before giving you our predictions for the coming year to help you make decisions about your financial circumstance and objectives.
• Halifax’s House Price Index showed an annual increase of 2.7% during 2017
• Mortgage rates remained similar during the year following tremendous competition and a strong appetite to lend
• This is despite the Bank of England increasing rates for the first time in a decade to 0.50%
• FTSE 100 once again reached record highs
• The pound has strengthened against the US Dollar but weakened further against the Euro
Here at Number One Mortgages we had yet another record year and our highest level of recommendations too – Thanks to you!!!
We extended our office premises and team!
It has been a tough year to maintain growth but a lot of fun for us!
Our predictions for 2018
Demand to own your own property continues to remain high within our great nation! This is certainly helped by low mortgage rates and living on a highly populated Island. Now first time buyers have the potential to save up to £5,000 on stamp duty incentives from the government, this combined with most mortgage repayments being lower than renting. This has lead experts to believe that house prices will continue to rise, and we agree! Despite our up and coming exit from Europe.
2018 House price predictions:
• Nationwide predict prices to rise by around 1% in England
• Halifax predict price growth of 0% to 3% across the UK.
• We predict a 2-3% growth in the South East.
Interest Rate Predictions
• Mark Carney, the governor of the Bank of England has predicted rates will rise twice within the next 3 years.
• We predict that interest rates will remain stable throughout 2018.
• And anticipate that rates will rise by 0.25% over the next 2 years.
These predictions are welcomed for First Time Buyers and anyone looking to move home or planning to remortgage.
Number One Mortgages
With your support and great offers like our £100 Recommend a Friend incentive.
With welcoming Oakleys Property next door and an array of New Build developments close by. Clubbed together with your support and great offers like our £100 Recommend a Friend incentive, we are expecting to expand our team and help a record number of clients buy a home, improve their home or save money.
Recommending a friend is easy, just email us at email@example.com with your friends / colleagues / family members name and contact number, then we’ll do the rest. We’ll send the £100 reward on completion of mortgage business*.
New Years Resolutions
If, like many, your new years resolution is to take control of your financial situation by moving home, buying for the first time or improve your living space then remember that we are here to help you achieve your goals and make it as easy as it can be. Taking control of your financial situation in 2018 all starts with a free, no obligation chat with an expert adviser, call us now on 01273 736536.
Wishing you a happy, healthy and prosperous New Year!