2024 was a mixed year for the mortgage market with interest rates finally beginning to stabilise after a couple of years of uncertainty.
Industry seasonal trends appear to be returning to normal and although interest rates had been predicted to fall over the course of the year, this never really materialised. Despite this, 2024 was a very busy year for us at Baltic Mortgage Solutions, as we helped more clients get mortgages than in any of the previous years we have been in business.
There is a positive outlook for 2025 with further rate cuts expected which should increase competition with lenders.
Stamp Duty changes in April have seen a very busy start to the year in terms of new purchases being applied for, as customers look to beat the 31st of March deadline before the government changes the thresholds, which will see more customers paying stamp duty than before.
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