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John Charcol regularly contributes to all forms of media and our lead spokesperson, Ray Boulger, is widely regarded as the guru of the mortgage market. Ray is a regular on BBC Television, BBC Radio, ITV and Sky News. As well as broadcast media, he is a regular in the Financial Times, Sunday Times, Sunday Telegraph and other leading newspapers.
Here is a selection of the latest developments at John Charcol.
Making customers understand their broker's value is the first step a mortgage adviser needs to go through to avoid to lose them. Our mortgage technical manager Nick Morrey explains how John Charcol strengthens their relationships with clients.
Brexit has forced people to turn to second charge mortgages as the UK continues to face economic uncertainty, it has been claimed. JC's Nicholas Morrey said: "Brexit has certainly caused uncertainly. As a result, fewer people are moving property and instead are looking to do home improvements."
Home improvements can add as much as £40,000 to the value of UK homes, according to new research. “If you are in a terraced house with no off-street parking, a loft extension to get more bedrooms may not attract the higher price of a similarly sized detached/semi-detached property that has off street parking and a garage," said JC's Nick Morrey.
Ray Boulger of John Charcol and David Hollingworth of L&C Mortgages have both called for Chancellor Philip Hammond to raise the threshold for stamp duty in today’s Spring Statement.
Lenders are offering a range of “secret” loans to existing customers so that they don’t lose our valuable business. “A better deal will often be available by remortgaging, but if the difference is small and the existing lender offers a suitable product, many borrowers will opt for a product transfer for its simplicity,” says JC's Ray Boulger.
Almost two in five buy-to-let landlords are looking to hike rents to remain profitable since the tax changes, whilst more than a third are also taking into account other options, such as getting a new accountant, cutting costs or buying yielding assets. JC's Ray Boulger said there has been a move by some landlords to switch to better yielding assets, reducing exposure in high priced areas where yields tend to be low and buying in the North and Midlands.
This week HMRC launched its most high-profile crackdown yet on the sector, raiding 50 estate agencies suspected of failing to register under anti-money laundering rules and revealing fines to others. “One of the reasons for the weakness of the top-end London market is the crackdown on money laundering,” said JC's Ray Boulger. “As a result the demand for higher-priced property in London will be permanently reduced.”
We asked some key voices what they do expect from the statement in terms of housing and what they would like to see addressed. JC's Ray Boulger says: “With all the voting happening in parliament this week I do not see the spring statement being prioritised in comparison to the Brexit vote… however, an area the government may touch on is mortgage prisoners.”
An analysis of the mortgage market in the UK, conducted by Nicholas Morrey of mortgage advisor John Charcol for The Sun, showed that some lenders are actually offering significantly cheaper deals to existing customers.
With what are often known as “family-offset mortgages”, parents or grandparents can put savings into an account linked to the child’s mortgage. "You should be aware that the market for these products is quite small as they’re not especially popular," says JC's Nick Morrey.
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