Helping Homeowners and First-Time Buyers Navigate the Rising Interest Rates - Eden Hawk Financial Solutions

The current increasing inflation and interest rates are having significant effects on homeowners and first-time buyers. These effects include higher mortgage rates, affordability challenges, slower home price appreciation, reduced spending power, and an impact on investment decisions.

The Bank of England's Monetary Policy Committee (MPC) has been gradually raising the Bank Rate in an attempt to control this rising inflation. As this rate increases for the 12th consecutive time to 4.5%, so do the rates for mortgages and other loans linked to the Bank Rate.

At a time when a large proportion of the population is already struggling, Chancellor Jeremy Hunt has said he would support an increase in interest rate if this reduced inflation and higher prices, even if the UK was pushed into a recession. Mr Hunt told Sky News that the only way to achieve sustainable growth was to lower the prices of goods and services, which is the cause of the current cost-of-living crisis.

As mortgage brokers, Eden Hawk Financial Solutions recognises these tough times and is doing everything they can to help those in the market by finding the right mortgage deals for them.

Impacts on Homeowners

This increase ultimately means that homeowners will have to pay more interest on their mortgages than they did in the past. If you are a homeowner, you may be feeling the pinch as your mortgage repayments increase. However, there are steps you can take to reduce the impact of rising interest rates. Eden Hawk Financial Solutions can help you to remortgage your property. By switching to a new mortgage provider, you could potentially secure a better interest rate and reduce your monthly repayments.

Impacts on First-Time Buyers

For first-time buyers, the rising interest rates can make it even more difficult to enter the property market. With house prices already high, the added cost of a mortgage can be a significant barrier. However, all is not lost - there are still options available. For example, certain government schemes such as Help to Buy and Shared Ownership can help you to get onto the property ladder with more manageable deposit and mortgage contribution requirements.

Impacts on Landlords

Of course, it's not just homeowners and first-time buyers who are affected by rising interest rates. Landlords also face challenges, as interest rates can impact the profitability of their rental properties. Fortunately, Eden Hawk can help you to remortgage your buy-to-let properties and secure the best possible interest rates. They'll work with you to find the most suitable mortgage provider and help you to manage your rental portfolio effectively.

The current rising interest rates can seem daunting for homeowners and first-time buyers alike. However, with the help of Eden Hawk Financial Solutions, you can navigate this challenging landscape and secure the best possible mortgage deals. Whether you are looking to buy your first home, remortgage your property, explore government schemes, or manage your rental portfolio, they're here to help.

Contact them today at 029 2049 0144 or visit their website: https://www.edenhawk.co.uk/ to find out more about their tailored mortgage solutions.

Eden Hawk Financial Solutions
Unit 3, Lewis Court,
Portmanmoor Road,
Cardiff,
CF24 5HQ
029 2049 0144

About Eden Hawk
Eden Hawk Financial Solutions team is an experienced firm of mortgage brokers and mortgage advisors based in Cardiff. Their team has extensive knowledge of providing property finance advice and financial protection planning. They help clients throughout South Wales and the United Kingdom.

This release was published on openPR.