UK homebuyers have received a welcome boost as mortgage rates fall and lending limits rise, signalling renewed confidence in the property market.
According to the latest data from Moneyfacts, the average UK mortgage rate has dropped to 4.99% in November, falling below 5% for the first time in months. This marks a positive turning point for affordability, offering hope to both buyers entering the market and homeowners preparing to remortgage.
Adding to the good news, HSBC has announced that it will now lend up to 6.5 times income for UK Premier customers borrowing up to 90% loan-to-value (LTV). This is one of the most generous lending criteria seen in recent years and highlights growing confidence among major lenders.
These shifts come after a challenging period of higher interest rates and cautious lending, with many potential buyers holding back. As confidence returns and borrowing power improves, more people are expected to re-enter the market - creating stronger demand and renewed energy in the housing sector.
For homebuyers, this combination of lower mortgage rates and higher income multiples means greater affordability and increased flexibility when securing finance. It’s a positive sign that lenders are starting to respond to stabilising economic conditions and a more balanced property market.
For home sellers, renewed buyer confidence can translate into stronger demand, faster decision-making, and more competitive offers - particularly for well-presented properties priced in line with current market conditions.
At Minors & Brady, we’re already seeing a rise in buyer activity across Norfolk and Suffolk, with more viewings booked and faster mortgage approvals coming through.
If you’ve been waiting for the right moment to buy or sell, this shift in mortgage rates and lending criteria could make now the perfect opportunity to take your next step.
Our local property experts are here to help you make the most of these market changes - whether you’re searching for your first home, upgrading, or preparing to sell.
📞 Contact Minors & Brady today to discuss your options or arrange a free, no-obligation property valuation.
Call: 01603 783 088
WhatsApp: 07884 753141
Email: homes@minorsandbrady.co.uk
Subscribe to receive the latest property market information to your inbox, full of market knowledge and tips for your home.
You may unsubscribe at any time. See our Privacy Policy.