Leeds Building Society launch a 5 year fixed rate at 4.59% available to first time buyers only If you are a first time buyer trying to get on the housing ladder then this mortgage may just be the helping hand … Continue reading
The deal? From tomorrow we will be able to offer a new 95% mortgage designed specifically for first time buyers that is fixed at 4.69% for 3 years with no lender arrangement fee. The catch? Well not so much a … Continue reading
How do lenders decide how much you can borrow? In the past lenders used income multiples which typically would allow single applicants to borrow between 3.5 to 4 times salary and joint applicants 2.75 times their combined salary or between … Continue reading
Pre 2007/8 borrowers would speak to us before their current deal was about to expire and on many, if not most occasions it would be in their interest to take a new deal with a new lender due to the … Continue reading
The SVR hike In the past week or so I have read various reports of lenders plans to increase their standard variable rates, referred to as SVR from here on in. Halifax, RBS and Bank of Ireland have all announced … Continue reading
When things go wrong with a mortgage application the consequences can be severe. Occasionally the only thing that holds you up from exchanging contracts on your purchase is receiving your mortgage offer. This was case for a recent client of … Continue reading
I recently had an enquiry from a customer who was looking to buy a property who had disclosed 4 months mortgage arrears from 2010 that were only cleared 18 months ago. Given the current climate and banks reputed unwillingness to lend, my … Continue reading
With all the doom and gloom currently in the news I thought it would be a good time for a feel good story with a happy ending! Back in July I received a call from Jonathan at our estate agents … Continue reading
In October 2008 the Bank of England Base Rate (BBR) was 5% and Mr & Mrs Smith purchased a property for £380,000, put down a 10% deposit of £38,000 and borrowed £342,000 from Nationwide Building Society. The product we recommended … Continue reading
I recently read a blog post that stated that it is the end of the two-year mortgage as fewer people than ever are are taking them up. But is it really the end for the two year deal? What is … Continue reading
