Although Mortgages4Plymouth was established in 2000, I have had 43 years’ experience in providing Mortgage and Protection advice. The last 2 years have been exceptional mainly due to the impact that covid has had. Tricia Kennedy, Partner at Mortgages4Plymouth explains more...
Firstly, we saw a dramatic fall in interest rates which made mortgage repayments attractive and encouraged people onto the market. Due to the significant reductions in stamp duty this also encouraged people to want to move up the market. The new trend also of working from home has led to people requiring more space and relocating to the West Country. We also saw and are still seeing a significant increase in first time buyers; all of this has had an impact on supply of property to both buy and rent.
I am constantly asked where I see the market going, an almost impossible question to answer. The interest rates and the cost of living are on the rise, but there is still a shortage of property and demand is still high. As more property comes to market and mortgage rates rise the market should steady.
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