Reported in Saturday's "Financial Times":
"Homeowners concerned about rising costs should consider reserving a competitive mortgage deal now - even if they're not moving or refinancing until 2012 - as some lenders will let borrowers reserve a rate six months in advance. More lenders increased their mortgage rates this week, as the eurozone debt crisis continued to drive up the cost of wholesale funding. Nationwide Building Society, Woolwich and ING Direct all raised rates, with Woolwich increasing some by as much as 50 basis points. But mortgage brokers are concerned that some homeowners still believe mortgage rates will remain low - or fall - because the Bank of England base rate remains at 0.5 per cent".
This report reflects the almost daily emails we received from lenders across the board detailing increases in some fixed rates. So if you want to review your position, give us a call on 020 8652 9944.
Monday, 21 November 2011
Tuesday, 15 November 2011
"The Critical Cost of Uninsurance" (a BBC Report)
A very interesting article from the BBC's Business reporter published at the end of last week:
If you want to review your options and potential costs, then give us a call on
020 8652 9944
Monday, 14 November 2011
Another lender back in for 90% Loan to Value
Following the move by Woolwich / Barclays at the end of October, Nationwide has announced that it will now again lend up to 90% Loan to Value (LTV) for house purchase and first time buyers.
The maximum for re-mortgages remains at 85% LTV.
Rates are competively priced (3 and 5 year fixes) and it is more good news that competition continues to increase in this key part of the market.
First time buyers can continue to take advantage of the £500 product fee discount, to help with the upfront costs of moving into a home.
Please note that the maximum LTV for new build houses will remain at 85%, and new build flats at 75%.
The maximum for re-mortgages remains at 85% LTV.
Rates are competively priced (3 and 5 year fixes) and it is more good news that competition continues to increase in this key part of the market.
First time buyers can continue to take advantage of the £500 product fee discount, to help with the upfront costs of moving into a home.
Please note that the maximum LTV for new build houses will remain at 85%, and new build flats at 75%.
Tuesday, 1 November 2011
Good News for the Self Employed
In a revision of policy guidelines announced today a major lender (that can potentially provide up to 90% mortgages), has informed us that:
"We will now accept applications for self-employed customers who have been trading for two years (this was previously three years). Our income verification requirements remain unchanged; customers must be able to evidence two full years of trading figures in the form of accounts, an accountant’s certificate or HM Revenue & Customs SA302 forms".
"We will now accept applications for self-employed customers who have been trading for two years (this was previously three years). Our income verification requirements remain unchanged; customers must be able to evidence two full years of trading figures in the form of accounts, an accountant’s certificate or HM Revenue & Customs SA302 forms".
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