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Following Bank of England governor, Mark Carney’s announcement last month that interest rates will not be rising any time soon – predominantly due to turmoil in financial markets and the slowdown in China – demand for mortgages in the UK will remain buoyant throughout 2016 and beyond.

Mr Carney has booted an interest rate rise into the long grass and beyond and this will further drive demand for mortgages throughout this year.

As I was quoted as saying in Herald Scotland, What Mortgage and numerous other publications recently: “The collapse of oil prices, weak economic performance in China, and the slowdown in UK wages and growth, have made their mark on the Bank of England’s decision.

“I think the earliest we can now expect a rate rise will be in 2017. This is primarily because headline CPI inflation is almost back to zero and because whilst UK GDP growth is steady, current forecasts for wage growth in 2016 of 3.75 per cent look very optimistic.

“And when interest rates do eventually rise, there is little reason to expect a return to the rate levels of before the credit crunch.”

So, with the expectation that ultra-low interest rates are now the norm; coupled with the view that, generally, house prices across the country are affordable in the current interest rate environment; the robust outlook in the UK’s property market as well as high rental yields, this will further drive demand for mortgage applications in the UK for the foreseeable future.

And it is a level of demand that shows no sign of slowing down at deVere Mortgages.

Looking back over the past year, deVere Mortgages, set-up by FCA-regulated deVere United Kingdom, part of deVere Group, one of the world’s largest independent financial advisory organisations, have secured mortgage agreements for 95 per cent of clients living and/or working overseas, despite them being deemed ‘high risk’ by the overwhelming majority of UK lenders.

deVere Mortgages, which works with more than 200 UK and international lenders, can assist UK residents and overseas clients with the purchase and refinance of their UK home with a variety of mortgages. In addition, deVere Mortgages also specialises in buy-to-let opportunities, re-mortgaging overseas properties and tax optimisation from rental income.