With the Bank of England holding interest rates in September 2024, first-time buyers face a key decision: buy now or wait for lower mortgage rates. As housing prices rise and rental costs remain high, acting sooner could be wise. In this post, we explore why buying now may benefit first-time buyers.
Author: Sam Kirtikar
Sam Kirtikar is CEO of The Mortgage Broker Group and a seasoned company director with a legal background and early career in debt advice. He writes straight talking guides on mortgages and protection, podcasts and blogs focused on outcomes that are suitable, sustainable and affordable. Sam’s work blends strategic insight with day-to-day lending know-how across first-time buyers, complex income, buy-to-let and protection planning, always with transparency, clarity and long term client interests at the core.
Personal Information: Company Director with extensive experience across financial advisory firms and a demonstrated history of customer service. With a legal background and first financial services role being within debt advice, Sam’s focus is always on the customer and ensuring that all support is suitable, sustainable, and affordable.
He combines strategic insight with hands-on expertise to design mortgage and protection solutions tailored to individual circumstances and suitable, sustainable and affordable outcomes. As CEO of The Mortgage Broker Group, Sam leads with a relentless focus on outcomes, transparency, customer service and long-term relationships; ensuring clients receive not just advice and guidance, but real answers from a business that puts people first and focuses on long term solutions.
Posts by Sam Kirtikar
Avoid the Stamp Duty Increases and Move Home Before Christmas!
Changes to Stamp Duty Land Tax are on their way, set to take effect on March 31, 2025. The temporary increases to the benchmarks that were introduced in September 2022 are coming to an end.
These changes will affect everyone who is planning to move home. First-time buyers will see the biggest impact from the rule changes.
What Are You Waiting For? Why You Shouldn’t Wait to Buy a Property
Ultimately, pinpointing the “ideal” moment to purchase doesn’t really exist. What truly matters are the fundamental factors: having a deposit, sufficient borrowing capacity, and viable properties on the market. If you possess your deposit, your income meets the requirements, and suitable properties are available, what’s holding you back from making the leap?
The Mortgage Market: Navigating Tough Mortgage Rates
Between now and the conclusion of 2024, over 1.4 million households will reach the conclusion of their mortgage fixed rate. If you find yourself in this category, it’s advisable to consult with an independent mortgage advisor.