When to speak to someone

When to speak to someone

General Interest, Mortgages
This week has been rather interesting for me as we have gone from been happy in our house to deciding to move. I could stop there but we actually took the spontaneous plunge of getting valuations and subsequently put our house on the market. What's the big deal I hear you cry? And in truth, there isn't one but it did make me realise the value of good financial advice. How come? Well, no sooner had I told Maria (my wife) that I think we should move, she picked up her phone and opened the Rightmove app and asked: "what can we afford?". At this point I did wonder if the idea of moving was mine, why else did she have the app installed... It was the question that struck a chord, let…
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It’s all about choice

It’s all about choice

Finance Planning News, General Interest, Mortgages
This month we are delighted to have introduced two new lenders to our panel. However, this wasn't as easy I just made it sound, I can think of two people who have had to complete a mountain of paperwork in order for this to happen and I'm sure they are as pleased as anyone that the process is over! Each month we review our panel of lenders to make sure meets the diverse needs of our customers, that's why we have all the big names you would expect and some that you may have never heard of. We are very fortunate in that our industry reputation opens doors that are otherwise shut, lenders are very fussy about who they do business with. Each month we review our panel to make…
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Rate drop continues…

Rate drop continues…

Market Watch, Mortgages, News
Average rates across all fixed mortgage terms have fallen since the start of the year. According to research from data provider, Moneyfacts.co.uk the average two-year fixed rate has reduced the most, falling by 0.24% since January this year to 2.52%. Five-year fixed rates have dropped from 3.29% in January, to the current 3.10% and the 10-year rate has fallen to 3.43% from January’s 3.63%. Charlotte Nelson, finance expert at Moneyfacts.co.uk said: “With competition still fierce in the market, it is little surprise that mortgage rates have fallen in the first half of 2016, reaching record lows yet again and currently showing no signs of stopping. “Borrowers looking for a new mortgage deal today will be substantially better off than they were six months ago.  In fact, anyone considering a five-year…
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‘Bank of mum and dad’ lends £5bn a year in UK

‘Bank of mum and dad’ lends £5bn a year in UK

Mortgages, News
Lending from parents to help their children get on the UK property ladder will amount to £5bn in 2016, according to data from Legal & General (L&G). L&G says it means the so-called Bank of Mum and Dad will help to finance 25% of all UK mortgage transactions this year - at an average amount of £17,500. If this lending prowess was combined into a formal business, it would be a top 10 UK mortgage lender, adds L&G. But it warns this method of lending is coming under increasing pressure. "The Bank of Mum and Dad plays a vital role in helping young people to take their early steps on to the housing ladder," said Legal and General chief executive Nigel Wilson. But he said it highlighted a number of…
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Landlords boosted by flurry of buy-to-let activity

Landlords boosted by flurry of buy-to-let activity

Mortgages
The flurry of buy-to-let activity before the stamp duty deadline helped to push annual returns for landlords up 12.2% in March, according to new data. Your Move and Reeds Rains said this is up from February’s figure of 10.7% and is the fastest annual rate of return for seen since November 2014. This means that the average landlord in England and Wales has seen a return of £22,135 over the last twelve months.  Adrian Gill, director of lettings agents Your Move and Reeds Rains, said: “In the short term, there has also been a scramble to buy property before the deadline. As a result, a flurry of interest from property investors has boosted values, and delivered a bonus for existing landlords through faster capital growth.  “In search of political points,…
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Thank goodness I spoke to a mortgage broker – we’re £6,000 better off

Thank goodness I spoke to a mortgage broker – we’re £6,000 better off

Finance Planning News, Mortgages
Mortgages are difficult to compare and hard to get. Speaking to a mortgage broker can be the secret to finding the perfect deal - this family saved thousands of pounds. In the internet age, it may seem old-fashioned to go to a mortgage broker - not to mention paying them a fee as well. But when it comes to one of the most complex financial decisions you'll make, the advice of a professional can save you a lot of money in the long run. THIS FAMILY SAVED £6,000 “Thanks goodness I chatted to my mortgage broker, Richard Lucy from the Finance Planning Group, and took his advice,” says Salih Kuzubasoglu who is £6,000 better off after getting help to find a new deal in December.“I was on a two-year deal…
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Who’s afraid of the big bad rate rise?

Who’s afraid of the big bad rate rise?

Mortgages, News
Interest rate rise on the cards! Terrible news for homeowners! A whole generation of mortgage borrowers who have never seen a rate rise are in for a shock. When they can't afford it, spending will be slashed. The slowdown will get worse. The economy will tank! That, at least, is the scary story. And here's why it seems like it may be true. The US central bank, the Federal Reserve, raised official interest rates from their post-crisis low last month, the first rise in nearly a decade. Historically, the UK tends to follow close behind. And British households, with their record unsecured borrowing and sizeable mortgages, are more vulnerable to rate rises than they are over there. Creeping up Scare yourself even more with a superficial look at the data.…
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