FSA the clunking fist
OK, I know the mortgage market isn’t always the most interesting subject, but this week in mortgage terms it really did ‘kick off’. The FSA published their Mortgage Market Review which contained their proposals for the future of the mortgage market, and reflected their intention of a more obtrusive approach. So, here I offer a …
Read more …Is it the end of self-cert mortgages as we know it?
With The Mortgage Works pulling out of the self certification market last week, it seems to indicate the end of self cert mortgages as we know them. The remaining lenders, namely Platform and Beacon, will almost certainly follow suit, and then there will be none. Rumours have been rife that as part of the FSA …
Read more …The great thaw
Well, it had to happen at some point this week we’ve seen a number of lenders reducing their rates, which is very good news for those looking to buy or remortgage. Lenders like The Mortgage Works, Platform, Godiva and Northern Rock have all reduced their buy to let mortgage products in the last week, and …
Read more …The changing face of the rental market
With all the focus on the property prices and the related mortgages, its worth noting that the flipside of the finance for property investors, (namely the rental market) is also in a state of flux. Thats good flux, by the way. Following the property correction, we have seen a gradual decline in rental demand which …
Read more …Buy to let deals still elude landlords or do they?
Latest research from Paragon Mortgages says that almost 9 out of 10 landlords had found it more difficult to secure a buy to let mortgage in the last 3 months, compared to the previous 3 months. Now the cynical amongst you may say Paragon obviously have a lot of time on their hands at the …
Read more …Low base rate holds up
** BREAKING NEWS ** – If you currently have a mortgage with Rooftop Mortgages, you will want to read this (you can thank me later) I have just spoken to a client currently with Rooftop Mortgages that was offered a reduction in his loan of 15% to move to another lender – that is, in …
Read more …Hey, we’re confident again!
Rightmove just released the results of their consumer confidence survey – 78% of people now feel that UK house prices will not fall any further over the next year. Take this in the context of the recent Nationwide figures, where property prices have actually risen 3.2% in 2009, then it certainly looks like we’ve hit …
Read more …Buzz in the property market continues
Interest rates could be at 0.5% till 2013 A report by a chief economist from Standard Chartered bank (which basically means the report will be wrong, sorry couldn’t resist) forecast that interest rates could stay at 0.5% until 2013. On the face of it that is great news for the property investor sitting on existing …
Read more …A small creep out of the woods
BM Solutions reduce buy to let rates Something of a rarity these days is news that a lender has reduced their rates. And at the weekend BM Solutions did just that (What, didn’t you see our rate alert?). The actual reason for this rate reduction is a little confusing – well it is for me …
Read more …Are lenders making it worse for the property investor?
Lenders undervaluing properties, claims NAEA: The National Association of Estate Agents certainly went for it yesterday when they published their report criticising lenders for deliberately undervaluing properties. Whilst the report was very restrained when compared with the conversations I have with some estate agents, (now that would have been a more interesting report), I’m sure …
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