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 Fixed Rates, Best Mortgage Rates, Coreco, Independent Mortgage Advice, Interest Only Mortgages, Large Mortgage Loans, Mortgage Brokers in London, Remortgage | Tagged Best Mortgage Rates, Coreco, Fixed Rates, Mortgage Broker in London, Mortgage Lending, Mortgage Market, Mortgage Shortage, Remortgage |
Not much to report after a slow news week driven by two long bank holidays; apparently a celebrity couple got hitched and some bloke got knocked off by the Americans but I think that was it.
First-Time buyers have been in the news as ever with further reports of the difficulties faced with getting onto the property ladder. In fact, as our own research suggests, the average deposit now stands at £54,923 and a whopping £138,624 in London, property ownership may seem to be becoming the preserve of the “haves” rather than the “have nots”.
Also posted in Bank Base Rate, Best Mortgage Rates, Coreco, First Time Buyers, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Brokers in London | Tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, MoneySavingExpert.com, Mortgage Broker in London, Mortgage Market, Property Market |
Last week was a mish-mash of contrasting news headlines that look like continuing into this week. Whilst events in the Middle East and talk of an oil crises overshadows much of the news, the revelation that the UK economy actually performed even worse than first thought in the last quarter may delay the impending rate rise by one month, at least until the next quarters figures are released.
I’m still betting on a rise by May and happy to take wagers!
Also posted in Bank Base Rate, Bank Bonuses, Coreco, Large Mortgage Loans, Monetary Policy Committee, Mortgage Brokers in London | Tagged Bank Bonuses, Bank of England Base Rate, Best Mortgage Rates, Coreco, Credit Crunch, Economy, Large Mortgage Loans, Mortgage Broker in London, Property Market |
For those of you who think times are more than a little tough at the moment, the news that there are still major fears about the strength of the European Banking System, is not really what you will want to hear.
However, this week sees the release of a major report involving the “stress-testing” on a range of European Banks to determine their health and, perhaps more importantly, whether they are in a position to cope if anything goes seriously wrong again. These “detailed” tests have been undertaken on 91 banks, including names such as Deutsche Bank and Commerzbank in Germany, HSBC and Barclays in the UK, as well as Societe Generale and BNP Paribas in France.
Also posted in Coreco, Credit Crunch, Economic Recovery, Inflation, Interest Rates, The Economy | Tagged Bank of England, Credit Crunch, Economy, House Prices, London Mortgage Broker, Mortgage Market, mortgage products |
Here at Coreco Towers we have been enjoying the exploits of our “semi-official” world cup team. Never mind dismal England, what about the pride of New Zealand? Chosen before the competition in part because of our unhealthy obsession with the brilliant Flight of the Conchords and part because our corporate colours match, yesterdays heroics just shows what smaller teams / companies can achieve against the so called “big boys”.
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" and is the current holder of the British Mortgage Awards "Best Press Spokesperson" title. Expect expert analysis, delivered in a down to earth style with a side helping of exuberance.
