The lenders avoiding bank statements

This is a good article and is worth reading http://www.mortgagesolutions.co.uk/news/2018/08/09/lenders-avoiding-bank-statements-mortgage-applicants/?utm_source=customsell&utm_medium=email&utm_campaign=msol-house-advert-second-send-0908-1533815107 If you want to know who, please give us a call 01698 283 301 read more

Great News! Lenders are loosing up

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 read more

Life time mortgages

Are you over 60 and have a interest only mortgage? Is the bank looking for the money you borrowed back? Have you been turn down by a lender because of affordability? If you answered yes to any of the above help is at hand. M.I.C. can now arrange life time mortgage as long as you are willing to pay the interest every month. Call us for full details 01698283301 read more

Slump in Decembers for mortgage lending

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. read more

Equity release at a all time high

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 read more

Mortgage fixed rate products low because of a sluggish housing market

I just finished reading an article about how the mortgage fixed rate products are being kept low because of a sluggish housing market. Read here if you are interested. http://www.telegraph.co.uk/personal-banking/mortgages/sluggish-housing-market-keeps-mortgage-rates-rock-bottom-even/ It amazes me on the flip flog news article I am seeing of late. One article stating that rates are going up and expect doom and gloom and then others saying how the rate will stay low. I know everyone has an opinion, but these are read more

Beware of penalties for long term fixed rates

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. read more

Mortgage Price War is Over

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 read more

NOW IS THE TIME TO FIX YOUR MORTGAGE

Two factors are coming together to make right now a crucial moment for homeowners to review their mortgage. Firstly, extreme competition between lenders mean rates are keener than ever. Secondly, the Bank of England’s leading Bank Rate is expected to rise as early as November. This would cause mortgage rates to rise in turn, and so the window to secure a best-ever deal will close. While the initial increase is expected to be small – a doubling of Bank Rate from 0.25pc to 0.5pc – it would be the first in more read more

How young homebuyers are walking into debit

I just finished reading the Daily Mail (Money Mail Section Sep 20th 2017) According to the article, young home buyers are taking on billions of debit just as interest rates are about to rise. The article also stated that more than £35 billion of fixed home loan deals will come to an end in the next 2 months and these borrowers will then be moved onto a variable rate deals. Folks. The article was very negative and did a lot to try and scare the public but gave little in the way of solution or advice. It is read more