Mortgages For Business: Residential Blog

New market leading residential rate - 24.09.2009

Sep 24 2009 12:00AM

Competition for HSBC - A new tracker deal at 1.98% has been launched for both purchases and remortgages on the market.

House Prices up in all Regions - 28.08.09

Aug 28 2009 12:00AM

Land Registry reports 4th monthly increase in a row - July is up 1.7% on June

Market Update - 06.08.2009

Aug 5 2009 12:00AM

With the reported increase in house prices from the Nationwide, it looks like the housing market is finally starting to recover. So where does this leave mortgages right now?

Mortgages for Business scoops top What Mortgage consumer poll award - 23.07.2009

Jul 23 2009 12:00AM

Mortgages for Business is delighted to have topped its achievements from 2008 where it won Best Specialist Adviser and Best Overall Adviser in the What Mortgage Awards by scooping the top award of Best National Adviser 2009, voted for by members of the public.

Nationwide report 0.9% increase in house prices for June 30.06.2009

Jun 30 2009 12:00AM

Nationwide's index published today shows the 3rd time in 4 months with an annualised decline of 9.3% rather than 11.3% previously reported

This is your final warning - 11/06/2009

Jun 11 2009 12:00AM

I appreciate that I am starting to sound like a broken record, but for some time we have been predicitng increase in fixed rate pricing, espcially for longer term deals (basically because lenders are predicting increasing interest rates over the coming years). We have also been beating the 5 year fixed rate drum. Well (and I dont wish to sound smug), it now looks like we were on the money.

Cake and eat it time - 15/06/2009

Jun 11 2009 12:00AM

Having gone on and on about the benefits of taking a fixed rate, and also having waxed lyrical about offset mortgages and how they are great for anyone with savings (earning less than 3.75% net in interest or for higher rate tax payers, less than 6% gross in interest) and a mortgage, or for those who like to have acess to a pot of money which they can dip into and repay on flexible terms, then we have a present for you!

Rightmove reports improving levels of demand 19.05.2009

May 19 2009 12:00AM

The Rightmove House Price Index is up for the second month in a row due to the pressure on the supply side.......

Make your savings work harder - 19th May 2009

May 19 2009 12:00AM

If you are a bit bored of seeing your hard earned savings earning the equivalent of tuppence in interest, then here is a mortgage which may well tickle your fancy. Its not a new concept, but it is one which looks more attractive than ever... let me introduce offset mortgages to you. Immediately, many will break out in a cold sweat at the propsect of having all of their banking, mortgage, savings loans and credit cards rolled into one because, well, its all just a bit complicated. However the good news is that there are products out there which ensure you can get a good return from your savings, and...... actually thats it!

Surveyors report increase in house prices - 12/5/09

May 12 2009 12:00AM

There have been lots of conflicting reports from various recognised house price indexes of late, reporting property price increases and in the same month decreases, from a different institution. And lets face it, even if we went one month when they all reported a increase, one swallow doesn't make a summer. However the Royal Insitute of Chartered Surveyors are getting behind the team and giving their perception of events. And its good news.

Battle for Mortgage Business Begins - 23/04/2009

Apr 23 2009 12:00AM

At long last, we are finally starting to see lenders trying to match their competitors pricing to win business - something which brokers have been waiting for, for some time now.

What on earth is Quantitive Easing? 16/04/09

Apr 16 2009 12:00AM

Quantitive Easing, while not a newly invented term, is one that you are going to be hearing about more and more. And as it is part of the Goverments rally to sort out the credit crunch and general doom and gloom of the moment, I thought it may be quite useful to explain what it actually is (and believe me, I had to do research to get to this point!)

Buyer interest on the up according to RICS - 15/04/2009

Apr 15 2009 12:00AM

Enthusiasm amongst buyers is gaining momentum as new buyer enquiries rise for the fifth consecutive month, the latest data from the Royal Institution of Chartered Surveyors reveals.

No Deposit? Here are some ideas to help get around this - 7/4/09

Apr 7 2009 12:00AM

Low house prices? Check. Good interest rates? Check. Big deposit available? Damn! The number of first time buyers looking to get on the property ladder has recently doubled on the back of lower house prices and interest rates. However reports state that they are unable to pursue their purchase because of the level of deposit lenders currently require (20% or more in some cases).

Gambling time is over, now is the time to take action and secure a fixed rate - 30/03/09

Mar 30 2009 12:00AM

We have for sometime, been banging the drum and urging borrowers to consider fixed rates over trackers when looking at their mortgages, purely because with base rate at 0.5%, apart from potentially dipping a little more for the short term, there really is over the next 24 months, just one way it can go - and believe me when I say, its not down!

Attention Northern Rock borrowers!!!!!!! 26/3/09

Mar 26 2009 12:00AM

Northern Rock are not offering remortgage rates to existing customers meaning that everyone coming off their existing rate will be paying a somewhat uncompetitive 5.84% (their Standard Variable Rate). Northern Rock are letting their existing borrowers get out of their deal three months before their early repayment charge period meaning that anyone with a deal which finishes any time now until August can get a new deal elsewhere.

Proposed borrowing restrictions by the FSA - 25/3/2009

Mar 25 2009 12:00AM

The amount lenders may be able to offer as a mortgage could be restricted, under potential new rules from the FSA. This is currently under review however loan to value and income to loan ratios are currently under the microscope.

Make the most of your savings - choose an offset mortgage 24.03.2009

Mar 24 2009 12:00AM

With the erosion in savings rates flexible offset deals could make sense

Are buyers really buying? 23.03.2009

Mar 23 2009 12:00AM

I spent last Friday at the Landlord Show at the Olympia and what struck me as the biggest difference since the last show I did (6 months earlier) was how much peoples attitudes towards buying property had changed.

The Turner Review 18.03.2009

Mar 18 2009 12:00AM

Not for the faint hearted (a wonderful 126 pages) but may impact residential lending over time. We offer a couple of points below. You can access it if you want from our BTL blog

Spotlight on Housing market recovery 16.03.2009

Mar 16 2009 12:00AM

Savill's latest report on the housing market concludes " Our view is that this puts us somewhere between the latter satges of house price falls and nearer the first of the stages in the recovery process

Lender SVR cuts are getting better after March BBR reduction 11.03.2009

Mar 11 2009 12:00AM

Lenders are getting better at passing on SVR reductions as our table shows. There are some interesting anomalies...

Lloyds/HBOS commit additional £3Bn to new mortgage lending 10.03.2009

Mar 10 2009 12:00AM

As part of the APS deal Lloyds / HBOS have committed an additional £3Bn to new mortgages in 2009.

A sad day for mortgage brokers - 9.3.09

Mar 9 2009 12:00AM

Today we have seen a huge loss to the mortgage industry as Chase de Vere and Cobalt Capital entered into Administration. Both of these firms were large, highly respected institutions and have contributed enormously to the innovation of our industry.

MPC cuts Base Rate to 0.5%!!! 05.03.2009

Mar 6 2009 12:00AM

As expected, the MPC has continued to use the tools at its disposal and slashed rates again to a record low of 0.5%.

Struggling to sell your property - this may be of interest - 26/2/09

Feb 26 2009 12:00AM

The main reason would be buyers are not buying right now could well be due to a lack of deposit, plus a perception that there are no mortgages available. And if you are trying to sell a property right now, this could be proving extremely fustrating. So here is a idea which may just clinch you a sale.

Northern Rock - plans to lend a extra £5bn this year - 24th February 2009

Feb 24 2009 12:00AM

Northern Rock is to revive its mortgage lending with extra cash from the taxpayer. This is part of government plans to boost lending generally, and reverses its earlier policy of winding down the bank's loans.

The Housing Market - Some Interesting Figures - 23/02/09

Feb 23 2009 12:00AM

A Consumer Confidence Survey recently carried out has attracted 28,000 in its first two weeks of being sent out. The figures are at worse, re-assuring but actually, dare I say it, positively encouraging!!!!!

Allsop's and Clive Emson's Auctions with strong results on house prices 23.02.2009

Feb 23 2009 12:00AM

Some improvement and activity at Allsop's first auction of 2009 shows that there is some resurgent activity and tightening of yields in the commercial property sector (typically down from 8.3% in December to 6.7% last week) and some residentail sales as well.

Anecdotally Clive Emson's auction in Kent was well attended last week as well. Check it out at http://www.cliveemson.co.uk/listings.asp

Credit Scoring - a word of warning! 12/02/09

Feb 12 2009 12:00AM

When you want to borrow money, it is very easy to apply for credit and then if you get declined or find a better deal somewhere else, apply again. However very few people realise the detrimental affect these applications have on their credit rating.

Opportunities for HBoS Mortgage Holders

Feb 10 2009 12:00AM

Fantastic opportunity for HBOS mortgage holders

House Prices UP in January - 06/02/2009

Feb 6 2009 12:00AM

The average price of UK homes rose by 1.9% in January from December's figure, according to the Halifax.

Rates go down and things are looking up! - 29.01.2009

Jan 29 2009 12:00AM

Today has seen the launch of what I would class as a 'stunner of a deal'. The low rate 2.29%, 1 year fixed rate combined with competitive arrangement fees and a reasonable lock in all tot up to a very attractive package.

Droplock Options (having your cake and eating it?) - 29th January 2009

Jan 29 2009 12:00AM

Should I take a fixed rate mortgage or a tracker rate residential mortgage? If I had £1 for everytime I was asked this right now, I could be retired before the next Bank of England meeting.... now theres a thought. Droplock is a product which allows you to make the most of a low and potentially reducing base rate now, with the option to switch to a fixed at any time without paying penalties.

Time to Fix? - 27th January 2009

Jan 27 2009 12:00AM

Guessing the bottom of the market is never easy. Whilst those that are on tracker rates or indeed lender’s standard variable rate are reaping the benefits of historically low interest rates there is also a feeling that this will not last forever.

Mortgage Express Amnesty - not just for Mortgage Express! 23rd January 2009

Jan 23 2009 12:00AM

A lot of lucky people have had a letter from Mortgage Express informing them of the amnesty on early repayment charges if they redeem their mortgage from February to the end of June.

Credit Crunch - the perfect time to number crunch 19.01.2009

Jan 19 2009 12:00AM

Its Monday. Its January. Its cold and we are in a recession. However, today I was able to give a customer some really good news. I was able to save her some money. And not just a few quid either! I actually reduced her monthly outgoings by £351.66 and overall £2,940 over the next two years – something I don’t think any of us would turn down at the moment. I appreciate the numbers don’t stack up but let me explain further.

The loan to value gap - 08.01.2009

Jan 7 2009 12:00AM

We are still all doomed according to the press!

Crosby Report and a glass of Shiraz! - 16.12.2008

Dec 16 2008 12:00AM

What better way to spend a Monday evening in the run up to Christmas, than to sit down with a nice glass of shiraz, the heating cranked up to tropical proportions, and read James Crosby’s final report and recommendations on Mortgage Finance.

Time to SWAP? - 09.12.2008

Dec 9 2008 12:00AM

On completing my Financial Planning qualifications, fortune telling was not one of the modules covered off. Pity.

BBR cut by 1% to 2% - News on products 05.12.2008

Dec 5 2008 12:00AM

The cut that we predicted on 18 November was announced by the Bank of England yesterday - we have already seen some movement on products.

What changes have there been to interest rates since the base rate was reduced to 3 %? - 18.11.2008

Nov 18 2008 12:00AM

It’s been nearly 3 weeks since the Bank of England made a shock reduction of 1.5% to the Bank Base rate, taking it to an all time low of 3% - So what have lenders done since this change?

Is offsetting your savings against your mortgage the way forward? - 30.10.2008

Oct 30 2008 12:00AM

Do you have a lump sum of money in savings?

Good News for first time buyers - 27.10.2008

Oct 27 2008 8:54AM

With recent reports confirming that house prices are still falling, this slump in the property market offers thousands of first time buyers their best chance of ownership in years...

Are things really as bad as the media makes out? - 22.10.08

Oct 22 2008 12:00AM

In my opinion, no. Every day I listen to the news and it all seems so terribly gloomy...

Get in quick...Secure a competitive tracker rate today - 07.10.08

Oct 7 2008 12:00AM

Now is the time to secure a competitive tracker mortgage rate...

Are you due to remortgage in the next 12 months? - 07.10.08

Oct 7 2008 12:00AM

I would advise anyone who is due to remortgage in the next 12 months to start looking...