Monty’s Mortgage Blog

Tag Archives: Mortgage Lending

HSBC – Stop It, My Sides Hurt…

By Andrew Montlake | Published: 18.10.11

Apparently, and, (said in the style of Theresa May), I am not making this up, HSBC have said that “HSBC accepts around nine in 10 of all customers who apply for a mortgage with the bank”.

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha, (stop it, ha, my, ha, sides hurt, ha).

Actually maybe that’s a little disingenuous, as to be fair at least they are giving the impression of supporting the average mortgage borrower and their rates have been consistently attractive. However, in making this comment whilst trying to put the proverbial boot in to mortgage brokers who they clearly see as an irritant, (who needs independent advice pah, advice is for wimps), they are opening themselves up to closer inspection.

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Posted in Best Mortgage Rates, Coreco, First Time Buyers, Independent Mortgage Advice, Interest Only Mortgages, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Professional Mortgage Brokers | Also tagged , , , , , | Leave a comment

Don’t Panic, Pike!

By Andrew Montlake | Published: 05.08.11

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.

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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 , , , , , , , , , | Leave a comment

The Mortgage Myth

By Andrew Montlake | Published: 04.07.11

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)?

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Posted in Best Fixed Rates, Best Mortgage Rates, Coreco, Independent Mortgage Advice, Interest Only Mortgages, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Market, Remortgage | Also tagged , , , , , , | Leave a comment

The End Of Interest Only?

By Andrew Montlake | Published: 19.05.10

One of the biggest changes in the Mortgage Market occurred a few days ago when the massive Lloyds Banking Group announced that they will no longer provide loans on an interest only basis above £500,000.

Given that it is the very customer base who most want to use interest only this is quite a big deal.

They have also gone further with loans below £500,000 in that applicants can no longer just say they will pay the loan off via the sale of the property, their buy-to-let portfolio or general bonus payments, but must have either a pension or some kind of savings plan. Is the return of the Endowment nigh?

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Posted in Independent Mortgage Advice, Interest Only Mortgages, Mortgage Lenders | Also tagged , | Leave a comment

CML Gross Mortgage Lending Data

By Andrew Montlake | Published: 18.03.10

In January, mortgage borrowing and housing transactions generally fell off a cliff given the sub-zero weather conditions and the end of the stamp duty holiday in December, so February’s slight uptick isn’t too much of a surprise.

Looking forward, we’re not expecting borrowing levels to accelerate significantly in the run-up to the General Election, and they may even fall back slightly post-Election.

Come the second half of the year we’ll know far more about how the mortgage and residential property markets are likely to fare in the short term.

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Posted in CML Gross Lending Figures, Mortgage Lenders, mortgage products | Also tagged , | Leave a comment