The property slowdown could be good news for existing borrowers. In a report in leading industry newspaper, Financial Adviser, Alex Bannister of Nationwide, has said that 'Lenders may put better deals on for existing borrowers as first time buying continues to slow down.
They will go into remortgaging in a big way in order to keep the growth on their balance sheets' 'Only larger lenders will be able to afford to offer the cheaper deals, due to the economies of scale involved in being able to guarantee rates'.
Our view
Excellent news for us all given recent interest rate increases.