In the second half of 2022, many people trying to acquire new properties were affected by the ongoing financial volatility, seeing the Bank of England raise the base rate of interest multiple times. This climate has seen mainstream lenders increase their rates, reduce product ranges, and withdraw products entirely, often with little or no notice. Specialist property lenders, such as those who provide bridging and hybrid buy-to-let loans like KSEYE, also had to react to the pressures of an increasing base rate – not just with product interest rate increases, but by placing even more importance on responsible lending than they had in stable or buoyant times.
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