After a quiet third quarter in the property market there is
an expectation that things are going to pick up in the final three months of
the year.
According to a report by Reuters, the credit conditions
survey showed that in the third quarter of 2014 there was the biggest fall in
the amount of credit the lenders were able to supply since the last three
months of 2008, when the Lehman Brothers collapsed. (http://reut.rs/10IHmRT)
We have already seen a number of lenders reducing their
rates and others are expected to follow in a battle to gain market share and
hit end of year targets which may have slipped away due to the quiet summer.
This could be an ideal time to either obtain a new mortgage
or remortgage a current property to secure a cheap fixed rate product. There is
an expectation of an interest rate increase at some point next year which means
we may never see rates this cheap for some years.
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