What does 2024 have in store for mortgage advisers?

[{"selector":"#anim-4d4ae554-29e7-4982-8462-4ced9e9dfca5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c59fb5f-2d2c-439f-8e1c-8cdeae4416af","keyframes":{"transform":["rotate(-360deg) translate3d(109.96978%, 0px, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Challenging Year for Brokers: Brokers and mortgage advisers faced challenges in 2023, marked by a persistent inflation-combatting rate hiking cycle by the Bank of England.

Base Rate Increase: The Bank of England raised the base rate by 1.75 percentage points, reaching a 15-year high of 5.25% in August 2023.

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Impact on Monthly Repayments: Those without fixed-rate mortgages experienced a substantial increase in monthly repayments due to the elevated base rate.

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What does 2024 have in store for mortgage advisers?

Base Rate Increase: The Bank of England raised the base rate by 1.75 percentage points, reaching a 15-year high of 5.25% in August 2023.

Impact on Monthly Repayments: Those without fixed-rate mortgages experienced a substantial increase in monthly repayments due to the elevated base rate.

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