{"id":2308,"date":"2023-05-24T12:02:47","date_gmt":"2023-05-24T11:02:47","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=2308"},"modified":"2023-05-24T12:05:29","modified_gmt":"2023-05-24T11:05:29","slug":"mortgage-approvals-keep-falling","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2023\/05\/24\/mortgage-approvals-keep-falling\/","title":{"rendered":"Mortgage approvals keep falling"},"content":{"rendered":"
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The number of mortgage approvals fell for the fifth month in a row in January, according to Bank of England figures, to reach the lowest monthly total since May 2020.<\/strong> <\/p>\n<\/div>\n\n

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Fewer approvals<\/strong> <\/p>\n<\/div>\n\n

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The Bank said that, excluding the pandemic and its immediate aftermath, January\u2019s total was the lowest for approvals since January 2009. Around 39,600 mortgages were approved for house purchase in January 2023, down from 40,500 in December. With mortgage approvals on the slide, what\u2019s the latest state of play for rates? <\/p>\n<\/div>\n\n

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Stable rates<\/strong> <\/p>\n<\/div>\n\n

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Having soared above 6% last September, lenders have recently been lowering the rates of five-year fixed deals below 4%. Although higher than a year ago, there is much more stability in these rates compared to the chaotic scenes that followed the \u2018mini Budget.\u2019<\/em> <\/p>\n<\/div>\n\n

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With house prices still predicted to fall by the end of the year, mortgage approvals could pick up in the ensuing buyers\u2019 market. <\/p>\n<\/div>\n\n

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Stick or twist?<\/strong> <\/p>\n<\/div>\n\n

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Fixed-rate mortgages are great at providing certainty about what you\u2019ll pay. When rates rise, those with fixed deals are protected. <\/p>\n<\/div>\n\n

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The downside, of course, is that should rates start to fall then you could end up locked in at an above-average rate. <\/p>\n<\/div>\n\n

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If you\u2019re looking to mortgage, or re-mortgage, we\u2019re here to help you through the complexities of the market to find the most suitable option for your unique needs.  <\/p>\n<\/div>\n\n

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It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The number of mortgage approvals fell for the fifth month in a row in January, according to Bank of England figures, to reach the lowest monthly total since May 2020.  Fewer approvals  The Bank said that, excluding the pandemic and its immediate aftermath, January\u2019s total was the lowest for approvals since January 2009. Around 39,600 […]<\/p>\n","protected":false},"author":4,"featured_media":2309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/2308"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=2308"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/2308\/revisions"}],"predecessor-version":[{"id":2313,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/2308\/revisions\/2313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/2309"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=2308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=2308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=2308"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=2308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}