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Recommended mortgage broker Bournemouth | What to expect in the mortgage market in 2020

I’ll admit I don’t have a crystal ball that can predict what will happen in 2020. However, I do have over 20 years’ experience in the financial industry. This means that I have a good idea of what you need to be looking out for in the new year as a homeowner or someone looking to move.
Recommended mortgage broker Bournemouth
Recommended mortgage broker Bournemouth
Recommended Mortgage Broker Bournemouth | Brexit
Let’s start with the elephant in the room – Brexit.
Since the EU referendum in 2016, there has been little impact in making house buying unaffordable so far. This is even the case for first-time buyers – 370,000 first time buyer mortgages were completed in 2018 and that’s 1.9% higher than in 2017.
Nevertheless, this could be set to change in 2020. The base interest rate set by the Bank of England could go in either direction after Brexit. If a no-deal Brexit is to happen, it would likely lead to the current rate of 0.75% dropping in order to increase spending and stimulate growth.
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