Monty’s Mortgage Blog

Category Archives: Best Fixed Rates

Half A Glass…

At a time when negative headlines dominate the economic landscape it is hard not to notice that consumer confidence has taken a battering in recent weeks. Talk of a double-dip recession is on many economists’ lips and whether this is caused by a struggling manufacturing sector, a European crisis that is nowhere near over or issues in the US, China or whatever, the myriad of reasons being thrown up by all and sundry has almost become unimportant to the consumer.

In truth the average consumer still feels like nothing has really changed, the technicalities of a recession are unimportant, it is how they feel and for most, things still feel tight.

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Inflation, Stagflation, Low Rate Nation…

As another Middle East country looks like it has undergone a regime change things in the UK seem to be quiet for once. Oil prices have fallen on the expectation that the end of the Libyan conflict could mean a return to oil production soon which should in time play through to inflationary figures.

Not that inflation is worrying the Bank of England as all 9 members of their committee that sets interest rates decided unanimously to keep rates on hold last month. This represents a small sea-change as at one stage at least 3 of the members were voting for an immediate rise, (although the main protagonist calling for rises has now left the committee of course).

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Building Societies Are Back – Weekly Mortgage Update

So here we are in August, already, time really does fly when you are having fun!

The good news from across the pond is that a deal has finally been done in the US to avert a crises, that, let’s be frank, would have been a disaster to everyone. Although the “right wing nutters” from the Tea Party could still do some damage the markets seem to have been calmed – for now.

Here in dear old Blighty things have been relatively boring this weekend compared to previous weeks which is somewhat of a relief. Lenders are still improving rates and we are now seeing a welcome return to the fray of the oft-forgotten regional Building Societies.

Also posted in Building Societies, Coreco, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Rates | Tagged , , , , | Leave a comment

The Mortgage Myth

If you believe everything you read in the papers you would be forgiven for thinking that there is not much point in applying for a mortgage at the moment because it is all too difficult. Banks aren’t lending and those that are want blood samples and a charge over your children in order to even think about giving you a few quid.

The good news is that this is actually a myth. There is no mortgage shortage and lenders actually have begun to compete for your business. How else can you explain the new trend of 7 day sales from certain lenders who are offering tracker rates from as low as just 1.99%, (4.0% APR)?

Also posted in Best Mortgage Rates, Coreco, Independent Mortgage Advice, Interest Only Mortgages, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Market, Remortgage | Tagged , , , , , , , | Leave a comment

The “Have Your Cake & Eat It” Mortgage

The biggest issue for borrowers in these uncertain times is the question around interest rate rises. To be fair, even the self-confessed great economic minds and the Bank of England Monetary Policy Committee themselves are split on the issue.

For some, rates will not change for another 12 months, others say they will rise slowly but surely by the end of this year, whilst yet another section believe rates will have to rise a lot quicker than expected next year even though this will cause more than a fair share of wailing and gnashing of teeth.

Also posted in Best Mortgage Rates, Coreco, Large Mortgage Loans, Monetary Policy Committee, Mortgage Brokers in London | Tagged , , , , , , | Leave a comment