Mortgages & me
Bringing both explanation and humour (yes, it is possible) to an often perceived realm of boredom
Mortgages. Let’s not kid ourselves here. If you had the choice of having one or not then there would be no choice. However, the vast majority of us, Russian billionaires excluded, need them to fuel that much loved British tradition – homeownership. So, if we all accept that we need them, you may as well do something positive and get the best one for you. It is staggering how many people make sure they get value for money from every day items but do not manage their home loan properly - the savings far outweigh the difference between the best baked beans and the value ones.
So, this blog will attempt to look at the world of mortgages and the housing market and try to bring both explanation and humour (yes, it is possible), and spark some comment, to an oft perceived realm of boredom. Here goes…
You can’t turn on your TV these days without being offered a short term loan. Their main purpose is to tide you over to pay day, often because of a wholly genuine and unexpected bill. On the face of it at least, payday loans are...
Another one of my colleagues has recently dealt with a far more unpleasant situation regarding a valuation going wrong. He was helping out a lady to buy a new buy to let flat in Stratford, East London. This client lives in the...
Categories: Mortgages, Buy to let, Interest rates, House Prices, Mortgage Lenders, Stamp Duty, Media, Budget, Long term fixed rates, Variable mortgages, Tracker mortgages, Fixed rate mortgages, Government, Estate Agents, First time buyers, Remortgaging, Moving Home, Commercial, Home Mover
A house is only worth what someone will pay for it. Seems fair right? So, if that’s the case, how can a property can vary in value by over £1m in the space of just three weeks? Step forward two different surveyors, with very...
Categories: Mortgages, Buy to let, Interest rates, House Prices, Mortgage Lenders, Stamp Duty, Media, Budget, Long term fixed rates, Tracker mortgages, Variable mortgages, Fixed rate mortgages, Government, Estate Agents, Moving Home, Commercial, Home Mover
As the housing market continues its phoenix like rise from the ashes, there’s an old practice that seems to be rearing its very ugly head; that of some (and we stress some) estate agents desperately trying coerce buyers into using...
The CML has claimed that remortgaging levels have remained subdued over the last year, with 2012 seeing the lowest number of remortgage cases since 1997.
However at John Charcol whilst remortgaging activity has slipped from it’s 2007 levels, it has remained steady around 40% since 2009, and we’d like to suggest a few reasons as to why this may be.
So the British Bankers Association’s (BBA) February figures show a drop in mortgage approvals for purchases of 6% compared to the same month in 2012. Many industry analysts claim the drop is a timely reminder that despite last...
In what’s sure to start an interesting debate, a building society has claimed that if lenders (the high street) don’t get rid of their “computer says no!” approach to mortgages, the average age of a First Time Buyer will increase...
TODAY'S MPC MEETING A SIDESHOW WITH ALL EYES ON THE ECB MEETING
• Eurozone crisis Summit will Determine the Fate of he Euro
Ray Boulger of leading independent mortgage adviser John Charcol comments on the news that the MPC...
Read what Ray Boulger has to say on the latest ads from Lloyds Banking Group. Click here to find out more.
Bank Of England rate - 0.5% - kept on hold (next decision 10th September)
ECB rate kept on hold at 1% - (next decision 8th October)
A meeting of the Bank for International Settlements (BIS), which consists of the...
The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and neither John Charcol nor Drew Wotherspoon will accept liability for them.