Avant Garde Financial Advice

09/05/2024

Has the long-awaited Base Rate Cut Finally Arrived? 😃

Well... No

It's remained at 5.25% as of 9th of May 2024.

If prices and wages keep rising more than expected, it's unlikely interest rates will go down soon.

It's hard to predict when a cut might happen; anyone claiming to know is lying 🤥

Hopefully, we'll see rates drop at least once this year, but maybe more. We will have to wait and see.

Until then, there'll be uncertainty, causing lenders to speculate and adjust forecasts and mortgage rates.

I always say - The best time to buy or move is when you're ready, not when the markets say so.

Locking in a deal early is wise. We'll keep an eye on your lender's rates, so if they improve, we'll switch you to a better option when possible 👍

28/03/2024

🚀 BREAKING NEWS 🎉

🏡 Now you can secure a mortgage with just a £5,000 deposit for properties up to £500,000. Effectively a 1% deposit mortgage.

Here's the key facts:

➡️ One borrower must be a first-time buyer.

🏠 The only product at time of posting is a 5-year fixed rate currently at 5.99% with no lender fee.

➡️ Maximum term is 40 years.

🏠 Loan amounts range from £95,000 to £495,000.

➡️ Available for houses only (no flats or new builds).

This opens up new possibilities for those stuck in the rental trap and are struggling to save the typical 5%-10% deposit required, whilst eager to step onto the property ladder.

Curious if this could work for you?

Drop me a message, and we can have arrange a call 📱

06/03/2024

🏡✨ I received the sweetest surprise from some amazing clients who recently completed on their new build! 🍰🍵

A delicious cake and some super premium tea bags were waiting for me in the letterbox today.

A few delays on the build along the way but that meant we could keep moving to lower rates as they appeared from the chosen lender.

Working with clients to achieve their homeownership dreams is always a joy, and feeling appreciated in return is the icing on the cake – quite literally this time! 🍰💙

I instantly ate the cake so not a real pic in case you didn't notice 😁

03/01/2024

As we bid farewell to a tumultuous year in the property market, it's time to look ahead to what 2024 has in store. Here are my insights for the property and mortgage market.

1. The House Price Odyssey

- House prices may experience a modest drop, according to experts, with forecasts ranging from 1% to 7.5%.

- Despite potential fluctuations, it's essential to contextualize these predictions. A 7.5% drop would merely bring prices back to early 2022 levels.

- Local variations will play a significant role, making the impact unique to different areas. Kent, where we are based is in its little bubble with our continued development and good transport links.

2. The Mortgage Maze

- Mortgage rates, having surged after the Autumn Statement in 2022, have now dipped below 6%, offering some relief for borrowers.

- Expect a gradual decrease in rates in 2024, though the descent might not be as swift as the ascent.

- Homeowners facing remortgaging decisions should brace for increased costs, even with falling rates.

Advice:
If you'd like, we can send you our robust budget planner, which provides peace of mind by clearly outlining your income and expenses. Just reach out!

3. The Remortgaging Conundrum

- Approximately 1.5 million households will reach the end of fixed terms in 2024, leading to increased remortgaging activities.

- Once we secure a mortgage, we will monitor their rates in the build-up to completion, as part of our service. Something not all brokers do, and is not an option when you go direct.

4. The First-Time Buyer Marathon

- First-time buyers, facing the hurdles of rising property prices, may opt for longer mortgage terms exceeding 35 years.

- Lenders, like Halifax, extending their maximum borrowing age, indicate a potential shift towards accommodating longer mortgage periods.

5. Buyers' Paradise?

- The property market may favour buyers in 2024, with a projected rise in available homes.

- A potential 'partial recovery' in sales volumes is on the horizon, fueled by increased confidence in stable mortgage rates.

- A speculated drop in the base rate could trigger higher sales numbers and increased mortgage applications.

6. First-Time Buyer Revival

- The closure of the Help to Buy scheme has left a void in the market, prompting speculation about the return of first-time buyer schemes and incentives.

- The possibility of a crowd-pleasing scheme surfacing in 2024 gains momentum, especially with a potential election looming.

7. The Rental Rollercoaster

- Rents surged by 10.2% in 2023, and projections indicate a potential 5% increase in 2024.

- Increased expenses aren't limited to mortgage holders alone. While renting provides flexibility, owning a home entails making payments that contribute to the ownership of a valuable asset.

We are here to help inform and guide us all through this year. Please feel free to reach out if you need help with anything Mortgages and Insurance.

Happy New Year for 2024! 🙂

28/09/2023

Not something I ever want to share...

A very close friend of mine, in her early 30s, recently faced an unexpected cancer diagnosis whilst expecting a child 👶

It was a harsh reminder of life's unpredictable nature.

🛡 What truly reinforces my commitment as an insurance adviser is that 2 years ago, while she was buying her home, we discussed the importance of having some life and critical illness coverage.

She took our conversation seriously and decided to take out a policy with some critical illness coverage which has now paid out following the recent diagnosis.

🏡 Not all mortgage brokers discuss protection, but I know firsthand how crucial it can be.

If we hadn't had that brief chat a couple of years ago, my friend's financial situation would be a lot tougher right now.

Talking about insurance isn't always easy, but this experience drives home why it's crucial to have some coverage in place. Life can throw curveballs when you least expect them, and insurance can provide some peace of mind and financial stability we all need during tough times.

I don't typically share stories like this, but I hope that doing so, emphasizes the importance of being prepared for the unexpected, regardless of your age.

If you've got questions about your insurance or need help finding the right policy, don't hesitate to reach out.

A 20-minute chat 📞 could be a game-changer if you ever have to rely on your coverage.

😊 I'm happy to share that my friend is doing remarkably well after her treatment and is now enjoying precious moments with her adorable baby boy!

Stay safe and protected!

26/04/2023

Check out our latest blog!

Hello there! Lately, a lot of my clients have been asking me if they should buy a property now or wait for a better time. I understand their concern, especially with the current economic situation. Let me share my thoughts with you. The housing market has been slowly adjusting since last year's Mini...

30/08/2022

The first step in your Mortgage journey is to book in a Mortgage Discovery Call:
calendly.com/deanlaidlawmortgages

Welcome to my scheduling page. Please follow the instructions to book a call.

05/08/2022

For regular updates and insights add me as a friend on facebook Dean Laidlaw and instagram 👍🏠

31/12/2021

Wishing everyone a Happy New Year for 2022 ⭐️

Let's toast to yesterday's achievements and tomorrow's bright future. Best wishes for peace and prosperity🥂