Business levels expected to increase come January


A Mortgage Solutions poll revealed over a third of brokers were experiencing business as usual in the run up to Christmas, while almost a quarter said the pace of activity had quickened. Just 10% of respondents have experienced a slowdown in business for some time, while a further third have seen activity drop off only recently. Lea Karasavvas, managing director of Prolific Mortgage Finance, said the pending changes to Stamp Duty due to take place in April had forced people to commit to deals early and bring forward read more

Bank of England Says “People can afford a interest rate rise”

Bank of England

Britons are weighed down by more mortgage debt than last year, but rising wages and low inflation means they are better placed to cope with a hike in interest rates, a Bank of England study has found. The average mortgage debt of a British householder has risen to about £85,000, compared with £83,000 in 2014, after a year of rising house prices and buoyant demand from first-time buyers. The study found that higher debt levels weighed heavily on mortgage-payers alongside the impact of the government’s austerity read more

Stamp Duty Not good for Landlords

stamp duty increase

Increases to Stamp Duty on second homes and buy-to-let properties effective from April next year could cause conveyancing ‘mayhem’, a conveyancing distributor has warned. Broker Conveyancing has anticipated a significant amount of pressure placed on conveyancing firms to avoid the 3% increase in Stamp Duty for completed purchases made on or before 31 March 2016. The Chancellor caused an outcry among the buy-to-let industry when he announced during his Autumn Statement last week that second homes, which include read more

Should you fixed before the end of the year ????

Mortgage lenders are being forced to pay more for the money that they pass on to borrowers, leading to speculation that fixed mortgage rates are about to rise. The cost of two, three, five and 10-year money fell in October, but has risen sharply over the past couple of weeks. Historically, when the cost of this funding, known as swap rates, rises lenders push up their mortgage rates to cover their increased costs. But other factors may come into play that encourage lenders to shoulder the increase and keep their read more