Wow, what a week! It’s good and bad news though. The good news is that the mortgage market is really buoyant with good business volumes, product choice at it’s highest for some years and properties selling quickly (sometimes before they make the papers and above the asking price). The bad news is that this is causing a number of lenders major servicing problems as they do not have the staff to handle application numbers. One we know of is working on applications submitted three weeks ago! We also have had delays on valuations with some surveyors taking up to two weeks to book an appointment. Unfortunately lenders have agreements with certain surveyor companies and they have to undertake the valuation, no matter what the delay in actually carrying out the appointment. There is no shame in being open about these delays as they should be taken in to account whether buying, or selling a property and this helps everyone manage expectations.
That said and even with the delays, now is a good time to review your current mortgage and possibly obtain a great rate with minimal (if any) costs to change your mortgage. Whether you want to fix your monthly payments for a period of time, or you fancy a low rate tracker mortgage, or maybe both – a tracker rate with the option to fix later on, there are plenty of great products currently available. Terms and conditions will always apply.
Finally, I have to say what a fantastic job Horsham Rotary are doing with the Elephantastic trail! Over 150 Elephants of all sizes have been bought and decorated by local organisations. These are now on display and children should follow the safari trails to locate the Elephants nickname with the major prize being a trip to
Kenya! There have been some amazing works of art and I’m sure they will make a lot of money for some worthwhile charities. Search “Elephantastic Horsham” to find out more. The big question is, after the Giraffes last year and Elephants this year, what will be next – Alpacas!?