In my mind 2012 was always meant to be the year when everything began to improve, after all we have the Olympics and the feel good factor from that together with a good Euro Championships would surely propel us on to bigger and better things? However, it looks as if I may have been a little lost in dreamland with that, although to be honest no-one really foresaw the issues from Credit Crunch 1 mutate into the mega-storm that threatens to break up the Euro itself.
Also posted in 2012, Bank Base Rate, Best Mortgage Rates, Coreco, Large Mortgage Loans, Mortgage Brokers in London, Property Market, The Economy | Tagged 2012, Bank of England Base Rate, Best Mortgage Rates, Coreco, Economy, Large Mortgage Loans, Mortgage Broker in London, Property Market, Remortgage, The Economy |
Just when you thought it was safe to go back in the financial markets…!
The news headlines are screaming from this morning papers that all is not well, traders are pictured with head-in-hands alongside graphs dropping off a cliff and Mr Peston is everywhere again – sounds like a preview of Credit Crunch 2 – Revenge of the Markets?
Looking back at the blog postings that were written during the heady days of the 1st crises there are many similarities. Back then the speculation went from bank to bank until the pressure became too much and one by one banks were rescued. There was then a brief lull, some began to believe we were out of the woods and then there was Lehman’s.
Also posted in Best Mortgage Rates, Coreco, Credit Crunch, Economic Recovery, European Union, House Prices, Mortgage Blog, Mortgage Market, Politics, The Economy | Tagged Best Mortgage Rates, Coreco, Credit Crunch, Economy, European Union, Large Mortgage Loans, Mortgage Lending, Mortgage Market, Property Market, Property Prices, The Economy |
Last week I was asked to speak as part of a panel at the OPP Live Property Investor Show at the Excel Centre on the subject of the UK Economy and the market as a whole. I thought I may as well share my short speech with you to get some feedback.
Granted there are alot of questions that remain unanswered and were meant to provoke some debate but anyway, here you go…
Also posted in Bank Base Rate, Best Mortgage Rates, Coreco, Economic Recovery, House Prices, Mortgage Brokers in London, The Economy | Tagged Bank of England Base Rate, Economy, Employment, House Prices, Housing Market, Mortgage Broker in London, Mortgage Rates, Property Market, The Economy |
Finally and as expected, Parliament is to be dissolved, (not literally of course although that could be fun!), and the election date is May 6th.
You could hear the audible sighs of relief from all around the UK as the starting gun was officially sounded on what will no doubt be a close, fiercely fought and no doubt tetchy campaign. I still believe the 3 TV debates will be absolutely key to deciding who will form the next government.
The number of loans for house purchase in February is lower than expected although given the growing sense of foreboding surrounding the big, post-Election tax rises around the corner it is understandable that people are putting the big decisions in their lives on hold.
With the General Election looming these figures suggest that property purchases will continue to tail off until a new government is firmly in place and people know who, and what, they are dealing with.
While we may see a slight uplift due to stamp duty changes for first time buyers and people buying property above £1m wanting to move before the year is out, this is unlikely to occur until after the next Budget.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
