Sir John Cunliffe stated that the Bank of England base could be below 2% for the next 30 years. http://www.mortgagesolutions.co.uk/news/2018/07/13/bank-england-base-rate-stay-2-30-years/?utm_source=customsell&utm_medium=email&utm_campaign=msol-mai-house-ad-1307-1531495622 Could this be true? With the amount of debit people are accumulating it makes since to keep rates low in order to avoid a financial collapse but what happens when the debit becomes to overwhelming? Something to ponder
This is a must read for all http://www.mortgagesolutions.co.uk/news/2018/07/09/one-seven-homeowners-expect-mortgage-70/?utm_source=customsell&utm_medium=email&utm_campaign=msol-house-advert-mai-first-send-0907-1531129070 1 in 4 of us can expect to be paying for a mortgage after we retire. This is a scary prospect as most of us will be earning much less than we currently earn while working. What about people who rent??? I think it would be foolish for us to think that the Government will provided enough benefits
Please read http://www.mortgagesolutions.co.uk/your-community/2018/06/27/help-buy-remortgages-none-big-players-innovative-enough-marketwatch/?utm_source=customsell&utm_medium=email&utm_campaign=msol-market-watch-1530107885 Although the industry professional interview broadly like Help to Buy I can say that trying to re-mortgage people away from this is nothing short of a nightmare. Even if the client has the equity to re-mortgage and clear the Help to Buy debit, the legal process is very slow as the Help to
A must read !!! http://www.mortgagesolutions.co.uk/news/2018/06/26/brokers-vent-frustration-lenders-change-minds-deals/?utm_source=customsell&utm_medium=email&utm_campaign=msol-editorial-2606-first-send-1530007829 The article states that there is a break down between the Business Development Managers and the underwriters that results in a case being turn down and the broker looking foolish.
Please read this article http://www.mortgagesolutions.co.uk/news/2018/06/25/mortgage-lenders-quietly-relaxing-criteria-brokers-say/?utm_source=customsell&utm_medium=email&utm_campaign=msol-editorial-2506-first-send-1529920650 Excellent! Lenders are loosing up there criteria but, it does not mean that they are lending like they did before the credit crunch. They are allowing you to borrow a little more based on your income and some are small building societies are falling in line with other financial
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I completed an article saying that First Time Buyers have less of a chance of home ownership than their counter parts from 20-30 years ago. See article here https://www.mortgagestrategy.co.uk/ifs-damns-young-adults-homeownership-chances/ It is the first article that I have read stating the truth as to the reason why. Most article that I have read are showing the divide between the static income vs increase price argument but, this one stated the real problem. The real problem is regulation. 20 years ago,
I have completed reading an article stating that millions of mortgage customers could face “shock” of a potential rate rise by the end of the month. Read here https://www.thesun.co.uk/money/5505102/millions-of-homeowners-could-face-shock-mortgage-bill-rise-this-month-heres-how-to-avoid-it/ When you look at the real monthly figures, too me it does not look that bad. The example used on a £250,000.00 mortgage over a five-year fixed rate, could go up by £30.00 per month. Really!!!! This will be a shock????
I have completed an article about a lending slump during December 2017. Read here https://www.mortgagestrategy.co.uk/mortgage-lending-slump-december-bank-england/ I would agree about a lending slump but not in December, as our figure show that we did more business leading up to Christmas than we had over the last 5 years. January, on the other hand, has been very quiet for most of the businesses in our industry. Maybe Scotland is one month behind the trend in England, but it is interesting contras.
I have finished an article on how over 55 are now doing equity release mortgages in large number. Higher than ever before. Read Here http://www.telegraph.co.uk/personal-banking/mortgages/babyboomers-release-cash-homes-record-numbers/ This is understandable because since 2009 there is very little incentive to save and people have gotten use to spending. The only cash available is the equity in their homes. This will work for our over 55’s generation but what about the next? I fear that future