Mortgages Mortgages Mortgages! What you need to know about Mortgage rates when you’re buying in Bristol. Bristol Mortgage Adviser / Broker

24th October 2017

Mortgages Mortgages Mortgages! What you need to know when you’re buying in Bristol.

Bristol Mortgage Adviser / Broker

Buying a home is no simple thing, it may take months before you find the perfect property, and navigating through the process of making an offer can be very confusing. Once you’ve found your dream property its likely that the estate agent will want to see evidence of your purchasing power, often this comes in the form of a mortgage decision in principle and evidence of your mortgage deposit. This requirement is more prevalent in areas of high demand such as Bristol where we have one of fastest moving property markets in the country. Estate agents will expect for you to have fully considered your mortgage options and to understand the basics of mortgages if your bid is to be seriously considered.

The eMoov Hotspots Index looks at where across the UK is currently seeing the largest spikes in demand, not surprisingly Bristol was ever present on the hottest demand list

eMoov’s National Demand Index, Q2 2017

Understanding your mortgage rate options could save valuable time, and prevent any unnecessary hassle during an already stressful period. There are two mortgage rate types discussed here, however there are further options within these categories. Doing your research is vital, and when in doubt, always consult with a professional.

Fixed rates- Bristol Mortgage Adviser / Broker

A fixed rate mortgage is just that, a mortgage plan that has a fixed interest rate for an agreed period of time. Depending on the plan that you choose, this rate can last for the first 2, 3, 5 or possibly even 10 years of your mortgage plan. The advantages are clear, you know exactly what your monthly payment will be for this period, and you can avoid any payment increase should interest rates rise. This could also be a disadvantage, however, as you won’t benefit from payment reductions that come with falling interest rates. We tend to find first time buyers are starting to favour longer-term fixed rates at present, this is due to uncertainty in the market.

Variable rates- Bristol Mortgage Adviser / Broker

Rather than a set rate of interest, variable mortgages are subject to change based on the rate of inflation at the time. These can either be based on guidelines provided by the Bank of England base rate or be dependent on interest rates set by lenders. As they are subject to change, your mortgage payments may not always be set at one consistent amount. You could benefit from decreased payments should interest rates decrease, which can help take the pressure off the purse strings, but they could just as easily increase as well which at present seems to be the way things may be going.







Area’s in high demand – Bristol Mortgage Adviser / Broker

Our brokers have noticed a demand for first-time buyer purchases in the following areas in 2017, if you’re looking to buy a home in the areas listed below be prepared to have bid against other potential buyers:

  • Easton BS5
  • Fishponds BS16
  • Bradley Stoke BS32
  • Old Market BS2
  • Southville BS3 Bristol Mortgage Advisers based in offices in the Bradley Stoke area provides reliable and honest mortgage advice to Bristol and the surrounding area. Whether you’re looking for a free decision in principle so that you can buy your first home, looking to re-mortgage, or considering a buy-to-let property, we’re here to help. To book an initial mortgage consultation, contact our team today on 01173 704258, or visit our website for more information.



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Suite 2, Knightwood Court, Mead Road, Bristol, BS34 8PS

Suite 2, Knightwood Court, Mead Road, Bristol, BS34 8PS

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Your home may be repossessed if you do not keep up repayments on your mortgage. is owned and operated by BMA Bristol Limited trading as Mortgage Advice Bureau Bristol North (Company No: 09911363) who are registered as a Data Controller under the Data Protection Act 1998.

There may be a fee for mortgage advice which is only payable once you receive a full mortgage offer from a lender. The precise amount you will pay will depend upon your circumstances. Speak to an advisor for further details.

Our Bristol based Independent Mortgage Advisors offer mortgage advice at our offices or in the convenience of your home in Bristol and Weston super Mare in the following locations only; Almondsbury, Backwell, Bedminster, Bradley Stoke, Brentry, Bishopsworth, Chipping Sodbury, Clifton, Downend, Eastville, Easton, Emersons Green, Filton, Filwood Park, Fishponds, Flax Bourton,Frenchay, Hanham, Henbury, Hengrove, Henleaze, Horfield, Hotwells, Keynsham, Kingsdown, Kingswood, Knowle, Lawrence Hill, Lawrence Weston, Leigh Woods, Lewin's Mead, Lockleaze, Longwell Green, Mangotsfield, Monks Park, Montpelier, Oldland Common, Patchway, Portishead, Redcliffe, Redfield, Redland, Sea Mills, Severn Beach, Shirehampton, Sneyd Park, Southmead, Southville, Speedwell, Spike Island ,St Agnes, St Andrews, St Anne's, St George, St Jude's, St Paul's, St Philip's Marsh, St Werburgh's, Staple Hill, Stapleton, Stockwood, Stoke Bishop, Stokes Croft, Thornbury, Totterdown, Tyndalls Park, Warmley, Westbury on Trym, Westbury Park, Weston super Mare, Wotton-under-Edge, Whitchurch, Whitehall, Willsbridge, Windmill Hill, Winterbourne, Withywood, Yate, Yatton & Peasedown St John, Corsham, Chippenham, Bath, Chipping Sodbury, Thornbury