I want to be very clear about the question posed in the title, especially as the Bank of England Monetary Policy Committee, (MPC) obviously kept rates on hold again today and in all likelihood, look set to keep it that way for a good few months yet.
This rise in rates I am alluding to is due to two things; firstly, as the storm in the Eurozone does its best to turn itself into a full scale hurricane of a banking crisis, because quite simply the cost of funds looks set to rise and secondly, liquidity issues are once more emerging from the shadows.
Posted in Bank Base Rate, Best Fixed Rates, Best Mortgage Rates, Coreco, Credit Crunch, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Mortgage Rates, Remortgage, The Economy | Also tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Economy, Large Mortgage Loans, Mortgage Broker in London, Mortgage Rates, 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.
Posted in Best Mortgage Rates, Coreco, Credit Crunch, Economic Recovery, European Union, House Prices, Mortgage Blog, Mortgage Finance, Mortgage Market, Politics, The Economy | Also tagged Best Mortgage Rates, Coreco, Economy, European Union, Large Mortgage Loans, Mortgage Lending, Mortgage Market, Property Market, Property Prices, The Economy |
It is a sad day as another well known brand, C&G, takes a quick bow and scuttles off into the shadows, at least where intermediaries are concerned. As someone who started using C&G in the days before they paid a proc fee and who has their mortgage with them it is a double shame.
However, before we all get carried away on a sentimental journey let’s be honest, it was always going to happen, probably before the ink was even dry on the Lloyds / HBOS deal.
Posted in Coreco, Credit Crunch, Dual Pricing, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Mortgage Lenders | Also tagged C&G, Coreco, Economy, Large Mortgage Loans, Lenders, Lloyds Banking Group, Mortgage Broker in London, Mortgage Market, The Economy |
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!
Posted in Bank Base Rate, Bank Bonuses, Coreco, Large Mortgage Loans, Monetary Policy Committee, Mortgage Brokers in London, Mortgage Market | Also tagged Bank Bonuses, Bank of England Base Rate, Best Mortgage Rates, Coreco, 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.
Posted in Coreco, Credit Crunch, Economic Recovery, Inflation, Interest Rates, Mortgage Market, The Economy | Also tagged Bank of England, Economy, House Prices, London Mortgage Broker, Mortgage Market, mortgage products |
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.
