Welcome to the first print issue of Mortgage Strategy for the ‘new’ year!
As a child thinking ahead to life in 2024, it conjured images of a futuristic world akin to that of US animated sitcom The Jetsons, complete with individual spaceships allowing easy access to other planets.
While we haven’t quite achieved everyday space travel, other advances are not far off. We have robots that can do the cleaning, hoverboards à la Back To The Future, and a host of other modern conveniences we couldn’t have fathomed a few decades ago.
House prices are beginning to ‘recover’, according to Nationwide, so the outlook is promising
But unlike for The Jetsons, who enjoyed a three-day working week, the developments we have made don’t seem to have eased our physical or mental load.
Perhaps it’s part of the human condition: an addiction to work and stress, for want of better terminology. Of course, much of the pressure we face is out of our control.
And boy, did the mortgage market face more than its fair share of pressure in 2023. Throw 2020 to 2022 into the mix and it sure is time the market had a year to remember for positive reasons in 2024.
While the start of a new year can bring with it the sudden urge to overhaul your life, just getting through one day at a time really is enough. And remember to choose your battles, for your own sake.
As we went to press, the Bank of England held the base rate at 5.25% again; arguably the best move to retain some stability, with drops predicted as inflation falls. Meanwhile, house prices are beginning to “recover”, according to Nationwide, so the outlook is promising.
Boy, did the mortgage market face more than its fair share of pressure in 2023
This month’s magazine is chock full of features, on the lay of the land for mortgage rates, options for FTBs and social media use for mortgage firms. Our news analysis pages look at ‘What’s in a name?’ for brokers, and the underhanded tactics of some estate agents.
In Ireland (Gaelic Calendar), 1 February marks the start of Spring. While we may be jumping the gun on the weather front, I do hope that 2024 brings back the spring in your step!
This article featured in the February 2024 edition of MS.
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