To coin a phrase, rumours of the death of the Buy-To-Let market have been grossly exaggerated! As regular readers will be aware, we have stated that 2011 will be a year when more lenders re-enter the Buy-To-Let market as First Time Buyers continue to struggle to get on the housing ladder, rents harden and landlords look to take advantage of a ponderous housing market before the economy really starts to recover fully.
As predicted, the first major release of the year in this sector already looks like a beauty, coming from the company that were synonymous with professional landlords before the credit crunch, Paragon.
Also posted in Best Mortgage Rates, Buy To Let Mortgage, Coreco, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Brokers in London, Mortgages | Tagged Best Mortgage Rates, Buy To Let Mortgage, Large Mortgage Loans, Mortgage Broker in London, Remortgage |
Faced with the barrage of news headlines in almost every paper today about raging inflation leading to soaring interest rates, we thought it was prudent to bring a sense of calmness to the media storm.
The question we have been asked most lately is whether to fix or not and I have for a long time now stated that I believe more people should be seeking the sanctuary of fixed rates than actually have done.
Evening Standard at the centre of the media storm
Also posted in Bank Base Rate, Best Mortgage Rates, Coreco, Independent Mortgage Advice, Inflation, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Rates, The Economy | Tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Inflation, Large Mortgage Loans, Mortgage Broker in London, Mortgage Rates, The Economy |
The 98 page Consultation Paper for the Distribution and Disclosure part of the FSA’s Mortgage Market Review has been published with a fanfare of trumpets, only losing it’s place on the front pages because a couple of nice young people decided to get married.
In terms of it’s actual content, (I must admit I am still reading it), there are a few headlines that were pulled out on the initial press release:-
We all know that 83.5% of statistics are made up on the spot, but this startling little nugget was published a week or so ago by none other than First Direct who stated that a whopping 92% of those planning to take out a mortgage do not understand the difference between the types of deals on offer.
However, even more worrying is that only 26% of existing mortgage borrowers said they really understood the difference between fixed, variable and tracker rate mortgage types!
To be honest, as far as direct only business lenders are concerned, whilst this is incredibly worrying, it is of no real surprise.
Also posted in Coreco, First Time Buyers, Independent Mortgage Advice, Mortgage Advice, Mortgage Brokers in London | Tagged Best Mortgage Advice, Coreco, First Direct, First Time Buyers, HSBC, Mortgage Advice, Mortgage Broker in London, Mortgage Lenders, Professional Mortgage Broker, Regulation |
There has been alot of press recently about the fact tracker rate products are more “popular” than fixed rates and whilst this is undoubtedly the case, could this be a big problem in the making?
It is of course no surprise that in recent times the popularity of the fixed rate product has waned as people come to terms with the financial environment. The “as cheap as possible please” line has been even more popular than usual as not only have many clients expected that Bank Base will stay low, but also that low tracker rates now are a shot in the arm to many, helping to keep the wolf from the door.
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.
