The Buy to Let market has been hit hard this week as two of the major players make significant changes to their criteria. BM Solutions (part of the Lloyds Banking Group) have withdrawn their House to House product. What does this mean? Well, the majority of investment mortgages, or better known as Buy to Lets […]
Category: Blogs
What’s the process?
Not too much excitement on the mortgage news round this week so I thought I would recap on the mortgage process. The mortgage process, regardless of whether you are a first time buyer, home mover or simply re-mortgaging, will be roughly the same. On any new purchase, the selling agent will seek to agree a […]
Short Term Loan required?
The ‘Short Term Lending’ market is growing at a rapid pace. Specifically geared at speedily arranged loans, normally with a monthly rate of interest and pre-agreed with an ‘exit’ route, the term ‘Bridging Finance’ is quickly becoming a household name. With many lenders in the market, offering loans up to 75% of the property value […]
What a load of PR!
Lenders are lending, mortgages are flying through with little delays and lenders are doing everything in their powers to help the First Time Buyer…..What a load of PR! Don’t believe everything you read in the papers. Some lenders are currently 12 working days behind. Others nearly a month, or two. The more you shout, the […]
The computer can still say ‘no’
The Bank of England held the base rate for another month and we all breathed a small sigh of relief as some industry pundits had suggested that a reduction may occur. Obviously it would be good for the consumer, but not so good for keeping the funds moving around the marketplace. As it is, many […]
Competition is a good thing for the end consumer
As the world’s eyes are diverted from the on-going banking and financial issues and redirected to the biggest sporting event in the world, it makes you wonder how much business will be lost due to people sneaking off and watching the Olympics! I’m sure I’m overdue a sick day or two! Competition is also taking […]
Payday Loans and Mortgages = Limited options
We get many enquiries where the customer has had historic financial issues, missed a payment or two or occasionally, not made a payment at all. Even so, in the current climates, some specialist lenders will still look to assist, albeit at a premium cost. However, more recently you can’t pick up a newspaper, or put […]
Changing from Interest Only is not a job for ‘tomorrow’.
Most weeks, I try to bring a bit of humour, sarcasm and light heartiness to a relatively uninteresting, but extremely important part of most of our lives. How else could I entice you to read a column about mortgages!? However, I need to be serious this week and discuss the huge issues surrounding mortgages on […]
A serious lack of consumer confidence…
Where do I start this week!? So much negative news surrounding the world of financial services. As I write this column, the Breaking News is that Bob Diamond has resigned as Chief Executive of Barclays, following his Chairmans departure some hours earlier. Both following Libor (London Inter Bank Offered Rate) and Euribor, the interest rates […]
Credit Rating Downgrades…
Lots of news this week surrounding banks and how some have had their credit ratings downgraded by ratings agency, Moody’s. These moves are a consequence of the on-going Eurozone crisis and weak economic performances. Despite low interest rates and falling LIBOR (London InterBank Offered Rate), the impact on the costs of borrowing funds, for the […]