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Since our launch in 2001, we have helped thousands of clients arrange their mortgages with our award winning team of mortgage specialists.

   
 
Act Now Before The Money Runs Out PDF Print E-mail
Wednesday, 07 July 2010 09:00

Homeowners are currently sitting waiting for news on interest rates. All the signals are that the rates won't increase for another 12 months or so. This is great news if you are sitting on a low standard variable rate from your existing lender. The theory is that you will be able switch mortgage to one of the low fix rates currently on offer just as rates start to go up.

However, homeowners should consider their mortgage arrangements now amid fears of a second credit crunch that would see banks further restricting lending to customers. Some of the low fixed rates currently on offer could soon go as lenders use up all available funds to lend.

The Bank of England said last week that mortgages would become harder to find because banks were struggling to raise money in the wholesale mortgage markets. Tighter banking regulation and fears of a double-dip recession could make this position worse.

If you need the certainty of a fixed rate we would recommend you review your mortgage without delay and contact your broker on 0800 035 2989.

 
 
Mortgage Rates to Rise PDF Print E-mail
Friday, 07 May 2010 10:11

The Association of Mortgage Intermediaries (AMI) has warned that the cost of mortgage borrowing could be set to rise slightly this year.

In its Quarterly Economic Bulletin, the trade body posits the belief that inter-bank charges (the fees banks charge each other to borrow money from one another) will increase this year, and that mortgage lenders will have to pass on their increased cost of borrowing to mortgage customers in order tomaintain profit margins.

At the same time AMI points out that many borrowers will be coming to the end of very low fixed rate mortgage deals, and will see their monthly repayments increase.

It also says that, if house price inflation takes off, the Bank of England might be forced to increase the Bank Base Rate from its current historic low of 0.5%, which in turn would increase the cost of mortgages for many thousands of borrowers.

However, AMI actually predicts that the rate of house price inflation will fall in the latter half of the year due to rising taxes and mortgage costs. The association also believes that activity in the housing market will slow down as a result of the economic squeeze.
 
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