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As we enter the annual awards season, which kicked off with the BAFTA’s and culminates with The Oscars, one of the highlights came last week with the Mortgage Industry’s own Oscars, the prestigious Mortgage Strategy Awards with Coreco very much amongst the winners.
As most Brits seem to be indulging in one of their favourite pastimes at the moment; talking about the weather, there are more pressing things afoot. A bit of snow may send everyone a little doolally but in the mortgage market things are progressing nicely.
The first few days of the year seemed to have started off as we left last year with some good activity and general business levels. Hopefully this year will remain steady all the way through without a mid-term dip. Lenders have stepped up the rate announcement this week with a plethora of changes and new products which, I am pleased to say, means even lower product offerings.
It is currently raining at 45 degrees in the City of London. It's bloody June next week. We all need to help move the Gulf Stream.
Monty’s Mortgage Blog
The FCA today released their long awaited report into Interest Only mortgages and found that whilst approximately half of the roughly 2.6m borrowers with an interest only mortgage may face a shortfall, 90% of the circa 600,000 deemed at immediate risk do actually have a repayment plan.