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Wednesday, 13 November 2013

Help to Buy will trigger 2014 rate war - broker

Borrowers will benefit from a Help to Buy-fuelled rate war in the first few months of 2014, a broker has predicted.
green house
Springtide Capital expects competition will intensify among lenders as more first-time buyers enter the market.
However, the broker anticipates rates will increase later in the year in reaction to a general improvement in economic conditions.
Springtide Capital managing director Henry Knight said: “I do not believe we are seeing the emergence of a housing bubble though we are clearly at the start of an improving market. Next year is set to be the year of the first time buyer.
“The Help to Buy schemes are going to present a great opportunity for people who have historically struggled with deposits. Our advice is to try to make the most of the first half of the year while rates remain low.”

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