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Why use a mortgage broker?

I’m often asked why use a mortgage broker when I can go online or talk to my bank? In this week’s blog, I explain why a good mortgage adviser is more than simply finding the best mortgage for you.

It was very nice having a few days of late summer last week. Even more so, getting some peace and quiet with the kids back at the school was a real joy! Read More

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Mortgages with smaller deposits, mortgage rates and larger loans

This week I discuss mortgages with smaller deposits, mortgage rates hitting new lows, and larger loans available from mainstream lenders.

For most of us with children, this is the first full week back with a semblance of normality! For those without children, a great chance to get away without being surrounded by kids and not having to pay for eye-watering prices for flights… God, I miss those days…

Even if you aren’t getting away this week, we may finally get to enjoy a warm sunny week which will be a rare treat for this non-event of a summer we are having.

Things are certainly hotting up in the mortgage world. In fact, it is getting close to the old days of rate wars and lenders undercutting each other on both price and policy. Below are the key points I have picked out from the last week; Read More

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Housing Market Hots Up and Mortgage Rates Continue To Fall

This week, the housing market hots up… and mortgage rates continue to fall.

I have managed to get away this week with the family to the beautiful island of Jersey. It was very nice this morning to wake up with a view of the Corbiere lighthouse and the very scenic coastline you get around here. Like many others, we opted to stay in the UK this year for obvious reasons and it does remind you of just how beautiful some parts of the UK are. We just hope the weather plays ball but so far, so good, as I intend to be on a surfboard as much as possible this week. Read More

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Mortgage rate rises and rent increases?

Like many of you I suspect, I have spent the weekend in the garden (or anywhere outdoors!) enjoying the fabulous weather rather than thinking about mortgage rate rises. I suspect it will be a Monday morning of a fair few people being a bit sunburnt, or a bit hungover, or both! This is how we Brits enjoy the sun, after all, drink our body weight in alcohol, while sat in 30-degree heat, surviving on a dubiously cooked BBQ and wonder why we feel so rubbish the next day…

What a difference a week makes though. From the disappointment of losing the final of the Euro’s (with the even greater disappointment from the fall out of some idiots) to the highs of Lewis Hamilton winning a stunning British GP race in glorious sunshine. We also have the Olympics to look forward to next week. I am a huge boxing fan and we are sending a truly great team, possibly the best team ever, so I am hoping for lots of Gold coming out of Tokyo. I hope we can be proud of the sporting achievements that come from that, as we really should be celebrating a golden era of British success in sport. Read More

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Mortgage rate rises and rent increases?

Like many of you I suspect, I have spent the weekend in the garden (or anywhere outdoors!) enjoying the fabulous weather rather than thinking about mortgage rate rises. I suspect it will be a Monday morning of a fair few people being a bit sunburnt, or a bit hungover, or both! This is how we Brits enjoy the sun, after all, drink our body weight in alcohol, while sat in 30-degree heat, surviving on a dubiously cooked BBQ and wonder why we feel so rubbish the next day…

What a difference a week makes though. From the disappointment of losing the final of the Euro’s (with the even greater disappointment from the fall out of some idiots) to the highs of Lewis Hamilton winning a stunning British GP race in glorious sunshine. We also have the Olympics to look forward to next week. I am a huge boxing fan and we are sending a truly great team, possibly the best team ever, so I am hoping for lots of Gold coming out of Tokyo. I hope we can be proud of the sporting achievements that come from that, as we really should be celebrating a golden era of British success in sport. Read More

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Inflation rate and ‘best’ mortgage rates

This week the inflation rate in the UK went to 2.5%. This is extremely relevant in the mortgage world as there tends to be a direct relationship between inflation, the Bank of England base rate, and therefore the best mortgage rates on offer. So this is a good time to look at that classic relationship, and also to look at why it is different this time and the outcomes may not be as expected:

  Why is the inflation rate linked to Interest Rates?In simple terms, it is all about disposable income and spending. Read More

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Whirlwind week in the mortgage and property world

I hope everyone has recovered from the jubilation of Saturday night!

I have 2 daughters, and I had to explain to my elder one, who is 8, that it isn’t normally like this! She has grown up at a time of the England football team getting to the Semi’s of the last 2 major tournaments (which I don’t think we have ever done consecutively before), endless gold medals at Olympics, British football teams winning the Champions League, Rugby teams winning the Champions Cup, the Cricket team winning world cups and a hoard of boxing world champions… It’s a far cry of the dark days of the 80’s that I remember when I was her age, watching Steve Davis win the snooker was as good as it got for me! (who I actually met at a function a few years back, and what a lovely chap he is).

A very different era indeed and I am really glad they won’t have the lifetime of waiting I have had for England to win their first tournament since 1966… can we start to dream…? Read More

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Can ‘best’ mortgage rates get any lower?

I, like many of you, joined the workforce in the late 90s. In that time, it is fair to say the world has changed forever. We can look back longingly at Sega Megadrive, one landline per household, an era pre-internet, and smartphones. It feels more like a new epoch than a new decade every ten years. So the world has truly changed forever, and perhaps, so have the ‘best’ mortgage rates.

Historic ‘best’ interest rates

In 1999 when I started working, the Bank of England Base rate was at 5.5% at the end of that year. This meant that market-leading mortgage rates would be have been circa 6%, with many people paying 8% or more on their mortgage. Read More

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3 C’s of mortgage lending | Lesson 2 Commitment

Following on from my last blog, Capacity, on the 3 C’s of mortgage lending this second instalment focuses on mortgage lending commitment.

I learned my mortgage principles ‘old school’ as my very first full time job out of college was at Cheltenham & Gloucester in Holborn in1999. This is relevant as mortgage applications back then were underwritten, processed and then sanctioned all from that office. Read More

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The core principles of lending

So, we are here, the insides of pubs opening, having a meal out within a permanent structure and even being able to hug one another. Is this going to be a summer of love, the likes of which we haven’t seen since 1967? I certainly hope so.

As ever, a lot going on in the mortgage world, so lets dive straight into it: Read More

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Mortgage Lenders Feeling The Strain?

If you feel that reading this Mortgage Lenders Feeling the Strain update is far too much effort, please do feel free to scroll down to the end of this blog where you can watch the content of this blog in video format instead. In fact we have put all our recent updates on our new podcast on Spotify no less! You can listen back to previous updates here. So I am officially coming at you from all angles these days, such is modern life…

For anyone that prefers good old fashioned reading, and isn’t playing a daily game of death by email (such has been my week), please do read on 😊Read more

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Beating the Stamp Duty holiday deadline

With the extended Stamp Duty holiday deadline fast approaching, if you want to benefit from the large discount on offer until 30th June (no Stamp Duty to pay for the first £500k of the property value, which equals a £15k discount on properties valued £500k +), you will need to move quickly. There is a further discount that runs from 1st July to 30th September, which is no Stamp Duty to pay for the first £250,000 of the property value (which equates to a £2,500 discount on properties £250k +), but after that time, Stamp Duty will apply in full after that date (you can see the rates here). So lets see what you’ll need to consider if you want to take advantage of the stamp duty holiday. Read More

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5% mortgage deposit deals are back

Lenders re-introduce mortgages for home movers, who only need to put in a 5% mortgage deposit.

Tuesday marks one year since the first official lockdown and roughly about the same time since I last had a decent haircut. In fact my hair is so long at present I tied it in a ‘top knot’ (as I was told that is the name for such a travesty) as I went to the garden centre on Saturday much to my wife’s dismay that I would go out in public sporting such a look. And that also reflects how Rock n Roll my life currently is… Read More

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95% Mortgage Guarantee Scheme

In the budget last week, the most interesting thing to come out of it from a mortgage perspective was the “95% Mortgage Guarantee Scheme” which is set to launch in April. The aim is to help people buy a property if you have a 5% deposit, but it will also benefit everyone who has between a 5-15% deposit as you can read about below.

Here we are going to look at that in more detail at the 95% Mortgage Guarantee Scheme – how it works, what the knock on impacts may be etc, but if you want a more generalised round up, which does also touch on this topic, you are very welcome to watch the budget video. Read More

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Mortgage market key developments

As I will shortly be getting daughter ready to go to school for the first time in months, I am equally happy that she gets to learn in the right environment with her friends (and I can concentrate more fully on my work! in readiness for the mortgage market key developments). 

But equally sad to lose my little companion and training buddy (3-4 times a week she would cycle alongside me as I went for a lunchtime run). It’s been a strange time, which was very hard on occasion, but I am thankful we got to spend so much time together. Read More

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Budget 2021 predictions for the mortgage market

As we are now just a week away to schools starting again, and a mere 112 days until the pubs fully reopen (not that I am counting…), there is very clear light at the end of the tunnel now, and so here we offer some Budget 2021 predictions.

We have what could be a pivotal budget on Wednesday. True to form for this Government, some headlines have crept out to their favoured news outlets already, so this week we have a look at what may be in store with our Budget 2021 predictions. Read More

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What a start to 2021 from a mortgage perspective

As if you thought the world couldn’t get any stranger (from a mortgage perspective or otherwise), I understand that the chemically fuelled, Maraca shaking, Bez of Happy Monday’s fame is to start a ‘Joe Wicks’ style fitness class during lockdown… If anything summed up the state of play right now, that’s it is right there…

While many of us are now home schooling again, or doing our darndest to be classed a key worker, the weeks (and possibly months) ahead may seem daunting. Read More....