It appears as though council house mortgages may soon be on the rise again, as more builders try to help consumers get a house. Although there is a lack of property for council house mortgages, this may change as more dwellings are completed. While there is no real immediate solution, the future may not look quite as grim for council house mortgages as it first appeared. Only time will tell how the markets will react to this new availability.
“There are signs of increasing activity in the mortgage market which can only be helped by falling rates,” said Tom Girling, mortgage product manager at the Yorkshire Building Society. “We are keen to pass on money market rate reductions to borrowers who are finding life tough at the moment with all of the other cost of living increases in fuel and food items.”
“In these uncertain times we are committed to helping our existing customers who are about to come to the end of their current deal,” said Jon Cooper, head of mortgages for existing customers.
“We have introduced these new competitive rates to support customers who want to keep monthly repayments as affordable as possible.”
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Related reading: Council House Mortgages
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