Expert says “Bank of England base rate unlikely to raise over 2%”

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 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

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

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

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