A Festive Finance Wrap-Up: A Mortgage Market Sleigh Ride

Season’s Greetings and Happy Holidays!

As we hang up our stockings and string the lights, it’s time to reflect on the year that whizzed by – especially in the mortgage market, which, let’s face it, was more ‘Nutcracker’ than ‘Silent Night.’ So, grab a mince pie and a cup of cheer as we take a jolly jaunt through 2023’s mortgage market mayhem and look forward to a brighter, prosperous 2024.

This year, the mortgage market took us on a sleigh ride, courtesy of rising inflation and those cheeky Bank of England base rate hikes. Lenders, bless their hearts, were like elves in a tizzy, trying to price future fixed rates. Here’s the kicker: five-year deals, usually the wallflowers at the finance party, suddenly became the belle of the ball, outshining those flirty 2 or 3-year offers. Talk about a Christmas miracle in finance!

But wait, there’s myrrh! As we’ve tiptoed into the final weeks of the year, it seems the financial markets have finally decided to take a cue from those calm, serene snow globes. The inflation Grinch has taken a bit of a tumble, and lenders, now with a sparkle in their eyes, are more confident about future rate forecasts. And what’s under the tree for us? A delightful drop in fixed-rate prices, with shorter-term rates now cozying up to their 5-year cousins in terms of pricing.

Before you start dreaming of sugarplums and historic low rates, a gentle reminder: we’re not quite expecting a return to those golden yesteryears of ultra-low rates. Think of it as returning to a classic Christmas recipe – rates now are simmering at levels akin to those pre-credit crunch days.

In the midst of this festive financial frenzy, let’s not overlook our trusty reindeer – insurances and mortgage protection. These silent heroes are the secret ingredients to ensuring your financial wellbeing stays as warm and comforting as a Christmas pudding. They safeguard your investments from life’s unpredictable sleigh rides, ensuring peace and joy, not just for this season but for many years to come.

And now, a little holiday note from our team. After a year that’s kept us busier than Santa’s elves, we’re hanging up our calculators and taking a much-deserved holiday break. We’ll be out of the office, roasting chestnuts and sipping eggnog from December 22, 2023, to January 10, 2024. It’s our time to recharge our sleigh and get ready to serve you with more jolly energy in the New Year.

As we wrap up this year’s tale, we want to extend our warmest wishes for a Merry Christmas and a prosperous, healthy New Year. Your trust and support have been the greatest gifts we could ask for, and we’re excited to continue our journey with you in 2024.

So, here’s to a season filled with joy, laughter, and good cheer. May your holidays be merry, your investments be wise, and your New Year be bright!

Warmest Wishes,

Annelie