July 6th, 2016
Following the EU referendum on the 23rd of June, there has been a lot of uncertainty surrounding savings and property, with questions from prospective savers and house buyers unsure with what they should do with their money.
Many are asking whether buying a property now would be advantageous or whether waiting to see what happens is a safer option.
However, it seems contractors have not been affected by the negative press surrounding the market, with many carrying on as beforehand in terms of buying property, and for one good reason. Contractors understand that buying a house is not a short-term investment, it is for the long-term. Although house prices invariably change, whether due to events such as Brexit or general market fluctuations, finding a great deal is the main aim.
So is now the right time to take out a mortgage, or even remortgage?
Well, at this time, things are looking great. Lenders have cut their mortgage rates to a record low in spite of the speculation surrounding the markets. Therefore, contractors now have access to more than 2,400 mortgage products. Offers include choices of fixed rates from 2 – 10 years for those who prefer stability, as well as tracker rates that follow the Bank of England base rate.
In terms of investments and savings, and the instability of the stock markets since the referendum, nothing has really changed. Investment fundamentals remain the same as they did before Brexit. Contractors are still able to make the most of tax allowances and maximising returns for retirement, the only thing that differs will be that fund managers and investors will be having to work harder at securing good investments than they would have done before Brexit.
Contractor Wealth, one of our sister companies, are currently working hard to ensure both new and old savers have assets that reflect the type of risk they have chosen, making the most of their savings.
Article By: Amy Adams, Marketing Executive at Contractor Mortgages Made Easy
Media Contact: Sarah Middleton, Public Relations Manager
Tel: 01489 555 080