At least we won something !!! Tweet selfie of the night award 😀@Coreco https://t.co/WywHVOKhpJ
18th March 2010
In January, mortgage borrowing and housing transactions generally fell off a cliff given the sub-zero weather conditions and the end of the stamp duty holiday in December, so February’s slight uptick isn’t too much of a surprise.
Looking forward, we’re not expecting borrowing levels to accelerate significantly in the run-up to the General Election, and they may even fall back slightly post-Election.
Come the second half of the year we’ll know far more about how the mortgage and residential property markets are likely to fare in the short term.
While it’s considerably easier to get a mortgage than it was a year ago, it is still considerably more difficult — and rightly so — than three years ago.
There has been a slight improvement in product availability and rates in the 80%-85% LTV range, although at 90% loan to value the market is still very limited.
Borrowers need to be aware that the days of sitting pretty on an SVR are coming to an end, as we have seen most tellingly with the recent increase in Skipton Building Society’s standard variable rate.
This is Bow, he’s a plucky little Boston Terrier and knows a thing about mortgage applications. His owner, Patrick, is one of our clients and Bow here helps with his paperwork. If there’s anything you need to know about mortgage applications or the paperwork entailed then check out our advice hub – it has everything you need!View the mortgage guides
Andrew Montlake, Director and Spokesperson for Coreco, gives his honest and forthright views on the mortgage market, economy and all things property related. Monty was voted "Mortgage Personality of the year 2008", "Best Press Spokesperson" in 2011 and is the current holder of the British Mortgage Awards “Best Marketeer” title. Expect expert analysis, delivered in a down to earth style with a side helping of exuberance.