Should 100% mortgages make a come back????

Three market industry leader have there option of a 100% mortgage making a return. Read here if interested http://www.mortgagesolutions.co.uk/your-community/2018/03/21/100-ltv-mortgages-make-comeback-marketwatch/?utm_source=customsell&utm_medium=email&utm_campaign=msol-editorial-newsletter-market-watch-house-advert-bsla-21-march-1521644293 Here is my 2 cents worth. Yes they should but, under the following criteria. 1) Minimum interest rate should be 5% and this would be fixed for 5 years 2) Bring back read more

Todays buyers are less likely to own a house than those from 20 years ago

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, read more

RATE RISE Millions of homeowners could face shock mortgage bill rise this month

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???? 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

79% Drop in bank right offs

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 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

Nationwide to entre the equity release market

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 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