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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It’s business as usual for our home buyers

It’s business as usual for our home buyers

General Interest, Market Watch, News
A positive message from our CEO, it’s business as usual and our doors are open to help you with your new mortgage. "In light of the Thursday’s Referendum result, there will be a lot of uncertainty about in the financial markets. This is not the first time we have faced change and it will not be the last. Whatever our political views, we will be leaving the EU, so we need to put the result behind us and move forward. In times of turmoil your clients will look to you for positive support, guidance and advice on all things financial. We at Finance Planning are very good at advising clients, whether it is about mortgages, investments, or protection.  Now is the time to remind your clients about what you do so well and to…
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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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Home owners confident of house price rises in the next six months

Home owners confident of house price rises in the next six months

News
Despite the current uncertainty in the UK housing market over a possible Brexit, home owners are confident their property values will rise over the next six months, new data has revealed. According to the latest Zoopla Housing Market Sentiment Survey, nine in 10 British home owners believe the value of their property will increase over the next six months, with an expected growth rate of 9.5%. While analysts predict the housing market is about to cool as a result of uncertainty surrounding the forthcoming EU referendum, home owners expect their own properties to increase in value by 8.8% over the next six months – up 2% from the last survey taken in October 2015. Homeowners in the East of England and South East England are most confident, with 96% in both…
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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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