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, Credit Crunch, Economy, Large Mortgage Loans, Mortgage Broker in London, Mortgage Rates, The Economy |
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)?
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 Best Mortgage Rates, Coreco, Fixed Rates, Mortgage Broker in London, Mortgage Lending, Mortgage Market, Mortgage Shortage |
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.
Posted in Best Mortgage Rates, Buy To Let Mortgage, Coreco, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Brokers in London, Mortgages, Professional Mortgage Brokers | Also tagged Best Mortgage Rates, Buy To Let Mortgage, Large Mortgage Loans, Mortgage Broker in London |
For many people who are coming to the end of their fixed or tracker rate periods the mortgage landscape may seem to have changed beyond all recognition since the original loan was first taken out. For a good number, this will indeed be the case.
Quite apart from a tightening of criteria across the board, the scarcity of competitive products above 85% Loan-To-Value and headlines stating that mortgages are becoming scarce, you may find that the lender you took you mortgage with is now part of a different lender entirely with a whole new rulebook.
Apparently, according to some sources, remortgaging is now back in vogue and enjoying somewhat of a renaissance as it is officially now the case that remortgage products are cheaper than most lenders Standard Variable Rates.
Some of us have already been talking about this since the start of the year, and it is nice to be backed up by some weighty reports. Moneysupermarket.com, for example, have stated that even when taking the new mortgage product arrangement fees into account the “best” fixed rate and the “best” tracker product over 2 years will beat the majority of lenders SVR’s.
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.
