Here is a summary of the key changes and announcements in the mortgage market for this week:

• The annual rate of inflation is now at zero. The Consumer Price Index fell from 0.3% in January to its current level. The Bank of England targets inflation at 2% and June 2014 was the closest to this at 1.9%. This period of low rates, could lead to a review on base rate and whether there is a call to reduce further from the 0.5% rate. With a minimal expectation of deflation, it’s unlikely that any rate change will come through and mortgage lender will still continue to base their rates on current market conditions.

• A new lender has been added to the partner mortgage panel, with the launch today of Bank of Ireland mortgages. Bank of Ireland have decided to use their own brand for mortgages, along with funding the Post Office range, which they will continue to do so. BOI are looking to make an impact in the market and we could see some very attractive rates as they start lending.

• Halifax have launched new rates, exclusive to our mortgage brokers and are continuing their move to improve their market share. The highlight of these rates is a 2 year fixed at 1.64% for those clients with 25% deposit. This rate comes with a £999 arrangement fee. 

If you would like a mortgage quote or further information call us on 0333 444 1007 and we will refer you to one of our trusted partners

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