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Monty's Mortgage Blog

Offset Mortgages – What Are They?

28th October 2014

The offset mortgage has always been something of an enigma in the UK after being heralded on their first appearance as the future of mortgages, however they have not taken off here in the same way they did in Australia for example. Part of the reason initially lay behind the fact that advisers and lenders […]

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Mortgage Lending Shows Slight Drop As Market Hits Plateau – CML

21st October 2014

The Council of Mortgage Lenders estimates that gross mortgage lending reached £17.8 billion in September. This is 1% lower than August (£18 billion), but 10% higher than September last year (£16.2 billion). Gross mortgage lending for the third quarter of this year was therefore an estimated £55.5 billion. This represents an 8% increase from the […]

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Stamp Duty Reform – Scotland Leads The Way?

20th October 2014

Having spent 20 years on the front line of the Mortgage and Property Industry, the one item that keeps coming back year after year at budget time is the question of Stamp Duty Reform. The main issue has always been not that it is paid at all, but that the way it is calculated in […]

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Interest Rates – Lower for Longer?

17th October 2014

In an important speech from Andrew Haldane, the Chief Economist of the Bank of England stated that “interest rates could remain lower for longer, certainly than I had expected three months ago.” Citing “weaker global growth, low wage growth and financial and political risks” which could affect the UK economy, these latest comments seem to […]

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Mortgage Market Update – Rate War Accelerates

13th October 2014

The mortgage rate war that started over the quieter summer months has shown no signs of abating just yet, in fact if anything, it seems to be accelerating as lenders get themselves in a bit of a lather chasing business. This has been exacerbated by recent falls in Swap Rates, with the cost of 5 […]

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Bank of England – Mortgage Availability To Bounce Back

07th October 2014

Today the Bank of England released their latest quarterly survey of lenders which showed that Mortgage Lending in the 3rd quarter of the year slowed markedly. In fact, lenders reported the largest fall in the supply of credit since Lehman Brothers collapse in 2008. It is no real surprise that availability and demand in mortgage finance […]

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How Does Being Self Employed Affect My Mortgage?

07th October 2014

There are enough stories in the press these days around the difficulties of obtaining a mortgage for those who are self-employed, but there does seem to be a growing trend amongst lenders that they are at least trying harder to understand this sector of the market. Coreco’s Rob Gill takes a further look at the […]

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A Cap On Loan To Value Ratios?

06th October 2014

The Financial Policy Committee, (FPC) is looking for powers to be able to cap loan-to-value and debt-to-income ratios. In June, the Chancellor stated that the Treasury wished to grant the FPC powers to protect the housing market from financial stability risks. The Bank of England also said that it wishes to place a limit on […]

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HSBC Enter Broker Market For The First Time

02nd October 2014

As broken by Mortgage Strategy today HSBC “is to make a shock U-turn on its distribution strategy by entering the broker market for the first time.” This will happen through Countrywide from 6th October initially but a wider pool of brokers is planned in the future. Andrew Montlake, Director of Coreco commented, “This is a […]

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Downton Abbey No More? Or Why Younger Couples Should Make Wills

02nd October 2014

An interesting and important subject; we are lucky to have a guest blog from Helen Gott of Blacks Solicitors to guide us through some pretty important changes. At long last there are some changes in the area of law relating to Wills. From the 1 October 2014 the definition of personal belongings or personal chattels last […]

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Andrew Montlake

About Monty

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.