This is great news. Lower fixed rates gives us more of that. https://www.mortgagestrategy.co.uk/average-two-year-fixed-rate-marginally-falls-moneyfacts/
This is a good article that also talks about the mortgage stress test and how to avoid it. https://www.telegraph.co.uk/personal-banking/mortgages/borrowers-feel-pain-rate-rise-hits-home-avoid-stress-test/
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
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
I read an article threating, again, that banks must behave on how much money they are willing to lend to customers. read here https://www.telegraph.co.uk/business/2018/03/16/bank-england-warns-mortgage-risk-interest-rates-rise/ I am getting tired of this. It is so simple. Customers will have to take there own responsibility or face losing there home and or bankruptcy. We do not need the Bank of England or the governments help or there influence with these matters.
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 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
I just finished an article stating that 2-year fixed rate mortgage deals are DANGEROUS because of POSSIBLE stagnant house prices and POSSIBLE high interest rates. Read here if you are interested. http://www.telegraph.co.uk/personal-banking/mortgages/mortgage-warning-two-year-deals-dangerous-house-prices-weaken/ The head of the Bank of England said that there might be an increase in the interest rate if he does not see a change in the inflation rate. Also, House prices could become stagnant but there is