I have just seen an article stating that mortgage lenders have hit a 12 year low in mortgage right offs this year. The article goes on to say that the Bank of England show that the amount of lender write offs is 79% lower than last year and even lower than pre-credit crunch figures. Their seems to be many factors that include more equity in property and lower interest rates to name two. Here is the article if you want to
I have read an article warning borrowers about the pearls of taking 5 and 10 year fixed rates with high early redemptions penalties (ERP). Read here if interested. http://www.telegraph.co.uk/personal-banking/mortgages/beware-fixed-mortgages-high-exit-fees-brokers-warn/ I agree with the article that a degree of caution is require when selecting a long term fixed rate. A lot of customers may think that they will be staying put in their homes but what if there is a big job promotion, a job loss, or more children.
I have read an article stating that the Government have given local authorities the right to start changing council tax on empty properties. Philip Hammond stated "It can’t be right to leave property empty when so many are desperate for a place to live" We all know this is a load of crap. It is another way to generate money for a starving government. I don't know about the rest of the country but around here landlords want rent money and if a property is empty it is usually because it is going through
I have just read that the chancellor is eliminating stamp duty for FTB's up to £300,000.00 Read the article. http://www.mortgagesolutions.co.uk/news/2017/11/22/budget-2017-hammond-slashes-stamp-duty-for-first-time-buyers/?utm_source=Adestra&utm_medium=email&utm_term=&utm_content=&utm_campaign=Daily%20SP29%20TML&utm_campaignid=893&utm_cmdid=52561 BUT, what about Scotland?? Will the SNP do the same????
I have just read an article about homeowners over 55 releasing equity from there homes and that Nationwide Building Society are now going to lend to this market. The highlights are 1) Available to 55 – 84-year olds 2) Up to 46% loan to value depending on age 3) No fees including legal and survey 4) You can port to a new property 5) You can take additional borrowing 6) Can pay back up to 10% per year Read here if you want all the detail
I have read an article expressing the doom and gloom of the current interest rate raise expressing how not only the base rate raising to .50% but also how the fix, tracker and discount rates have also climbed. Here is the article if you would like to read http://www.thisismoney.co.uk/money/mortgageshome/article-5077957/End-line-sub-1-mortgage-rates.html What does this mean in real terms for most us leaving in Scotland? Around £8.00 more per month. That’s right £8.00 Does this mean that our customers should
I have read an article about Mr and Mrs Rafferty and how they added value to their home by raising money to complete and extension and replace windows. (READ HERE if you are interested) http://www.telegraph.co.uk/personal-banking/mortgages/remortgaged-renovate-homes-worth-extra-200k-rising-rates-still/ Maybe you are the type of customer who would like to stay put in their current home but need more space. The answer could be found in the equity of your current home. For example, if your current home is
An average of 12.2% of property that is for sale has been on the market for 6 months or more This is an interesting article https://www.mortgagestrategy.co.uk/survey-finds-12-5-uk-properties-market-6-months-longer/ It says that despite what we are experiencing in Lanarkshire some area of the market is still sluggish in sales. London is one of the worst with 22% of house still on the market for ½ a year or more. I would love to see a break down, flats vs house showing which type of property is on the market
I have just read an article saying that the treasury is keen to include rental payment on credit scoring websites like Experian, Call Credit and Equifax. The article goes on to say that minsters are discussing this issue and are keen to put through a motion for good tenets to increase their credit profile and possible be home owners in the future. Read here if you are interested in the article
I have just finished reading a great article about small banks raising their interest rates for savers to over 2% which is driving the market up with other banks. The article also discussed the raising of the “swap rate” which dictates the price of most fixed rate deals. Read the article here http://www.telegraph.co.uk/personal-banking/savings/rare-moment-savers-borrowers-winners/ Even though the swap rate has increase since the referendum the deal are still fantastic for anyone with a 10% deposit or