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…
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
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.
Guest Blog, Alistair Hargreaves, Mortgage Consultant.
Is everything really going wrong? Looking at the response to the budget, especially around housing and you would certainly think so. Don’t get me wrong; it’s tough out there...
Following reports in the press that First Time Buyers aren’t aware of the return of High LTV’s (Loan To Value), we thought it worth making a bit of a splash about this. ...
HSBC’s recent claim that “81% of all best buys are provided by direct lenders” seems to have missed out on the vital point of it’s only a “Best Buy” if you can actually get it. If you can’t it might as well be on the moon. “How do...
Now that Bank Rate has remained at 0.5% for 19 months a new milestone has been passed. Bank Rate, which has had various names over the years, has now been unchanged for the longest period since the Second World War.
After a false...
In July 2010, the proportion of purchase business transacted by John Charcol was the highest it has been for many, many years. Click here for the full report.
The historic cut in interest rates of 2% over the last two months has seen many mortgage borrowers’ monthly payments reduce dramatically. You should, if you can, maintain pre-cut payments and use the low interest rate environment...
Anyone trying to choose a mortgage at the moment may well feel like their head is spinning, with rates yo-yoing and even the experts finding it hard to predict what news the next days and weeks might bring. While many people...
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.