Ray Boulger is widely renowned as the guru of the mortgage industry and expert on the housing market. Ray is constantly called upon by the media to provide informed comment on all areas of the market, and is a regular on the BBC, Sky and ITV.
The interest rate yield curves are currently very narrow, but the swap rate curve is exceptionally flat.
Ray gives an update on the market today with gilt yields continuing to fall.
Ray Boulger’s predictions and recommendations for the fixed rate mortgage market.
Two months after the FCA announced a relaxation in its previously unduly zealous rules on interest only mortgages for older borrowers, two lenders are now offering the new style Retirement Interest Only Mortgages and a third lender has announced it will launch on 11 June.
Figures issued by the DWP on the continued take up of Support for Mortgage Interest Benefit (SMI) following the payments being changed from a free benefit to a loan from 6 April were released on 24 April.
Despite a partial recovery from the 859,000 housing transactions recorded in 2009, current transaction levels remain a long way adrift of the 1.6m plus seen in 2006 and 2007 and have been broadly flat since 2014. 2018 starts with prices fairly flat and housing market activity muted. There is nothing on the horizon to suggest those trends will change in 2018...
Following its consultation exercise the PRA has today announced its final rules for BTL mortgages, with few changes from the draft proposals announced 6 months ago.
In the post Brexit world (or at least post the decision to Brexit, as the actual deed is still well over 2 years away) little has changed in the housing market 3 months after the referendum except that mortgages have got cheaper, although there are still plenty of uncertainties ahead.
Whatever the result of the referendum it will have huge political implications for the rest of the European Union as well as the United Kingdom. Clearly these will be greater if we vote Leave but the debate in the UK has been devoid of consideration of the wider implications for the EU, although it has provoked considerable debate in some of these countries.
The following question received from a reader raises an interesting question which will be relevant to many others and so I thought publishing an answer on my blog would help others as well.
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 Charcol Limited nor Ray Boulger will accept liability for them.