A few things have come up in the past week or so that have not necessarily helped those looking to get a mortgage.
First of all Lloyds Banking Group have followed the lead of Santander and changed their interest only criteria which means that many more buyers will have to look at a repayment mortgage. As mentioned last week however this is not the end of the world and, especially because of the low rates still available, when a repayment mortgage is compared to the cost of renting in most cases it still works out the more attractive option.
Posted in Best Mortgage Rates, Coreco, First Time Buyers, Interest Only Mortgages, Large Mortgage Loans, Mortgage Brokers in London, Remortgage, Service Standards | Also tagged Best Mortgage Rates, Coreco, Housing Market, Interest Only Mortgages, Mortgage Rates, Remortgage, Service |
There I was pondering what to write this week and all of a sudden we seem to have been inundated with some stat-tastic facts and figures from the Office of National Statistics and the good ol’ CML, as well as a controversial policy change from a major lender.
But first the headlines, Swaps have risen slightly, apart from 1 year money, whilst LIBOR has remained steady.
Three-month LIBOR is still at 1.08%.
1-year money is down 0.01% at 0.965%
2-year money is up 0.01% at 1.24%
3-year money is up 0.04% at 1.31%
5-year money is up 0.09% at 1.615%
Posted in Best Fixed Rates, Best Mortgage Rates, Coreco, Interest Only Mortgages, LIBOR Rates, Mortgage Blog, Mortgage Brokers in London, Mortgage Funding, Mortgage Lenders, Mortgage Market, Mortgage Statistics, Mortgages, Property Market, SWAP Rates, The Economy | Also tagged Best Mortgage Rates, CML Figures, Coreco, Economy, Interest Only Mortgages, LIBOR Rates, Mortgage Broker in London, Mortgage Rates, SWAP Rates, The Economy |
I have been reading with interest the announcement from Facebook of their impending floatation and the figures that have subsequently been released. Not bad making a profit of $1 billion in its 8th year of existence.
Following on from one of my main themes, one of Mark Zuckerbergs’ quotes struck a particular chord, “a more open world will also encourage businesses to engage with their customers directly and authentically.”
In our own financial world, Swaps have fallen again this week whilst LIBOR has eased off a touch which will hopefully mean that lenders will indulge in some rate cutting with no notice next week! I know, wishful thinking.
Posted in Best Mortgage Rates, Coreco, Mortgage Advice, Mortgage Blogs, The Economy | Also tagged Bank of England Base Rate, Best Mortgage Rates, Coreco, Economy, Facebook, Mark Zuckerberg, Mortgage Broker in London, The Economy |
So this is my 3rd Market Watch now and apart from the fact that I am still waiting for a decent photo rather than the one glaring at you now, I have already had a taste of the difficulties of this column and how people, and by people I mean lenders, react to it.
More in a sec, but first the headlines: Swaps have continued on their slight downward trajectory with LIBOR again holding firm.
Three-month LIBOR is unchanged at 1.09%.
1-year money is down 0.09% at 0.985%
2-year money is down 0.08% at 1.23%
3-year money is down 0.09% at 1.26%
5-year money is down 0.10% at 1.485%
There are quite a few good news stories around this week and personally speaking I can’t quite remember a busier, in enquiry terms, first week of January at all. Some of the brokers I have spoken to have echoed this so let’s hope it keeps up and translates into business for us all.
Swaps have actually meandered down since last week with LIBOR holding firm.
Three-month LIBOR is unchanged at 1.09%.
1-year money is down 0.075% at 1.075%
2-year money is down 0.06% at 1.31%
3-year money is down 0.06% at 1.35%
5-year money is down 0.03% at 1.585%
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.
