The Bank of England keeping its Base Rate low influences various markets including the mortgage and property market. Mortgage rates on offer are very competitive including medium term fixed rates. But there are still problems in the property market itself as not everyone can access these mortgage rates. There is a chasm in the mortgage market between the Good and the Bad. Those who have good salaries and reasonable deposits have no difficulty in finding very competitive rates. In fact, one such case we dealt with recently went from application state to the issued formal offer within 24 hours. However, those who have difficulty proving their income (usually the self-employed), or who have had any past credit problems, face much higher interest rates and a long and complicated mortgage application process. There are still options for most but the interest rate is often not attractive. People then just do not move.

SVR (Standard Variable Rate) is the rate you go onto whenever your initial special deal expires. The lucky ones have a Standard Variable Rate linked the Bank of England Base Rate (BBR). Many of these are enjoying interest rates under 2.0% and even some under 1.0%. Check and see if you are one of the lucky ones. If you are, stay with it. However, if you are on one of the more common SVRs, you will find the interest rate you are paying anywhere between 4.0% and 5.0%. Remortgaging for a new deal should save you at least 1.0% per year for 2,3,4 or 5 years. A 1.0% saving on a 25-year mortgage of £100,000 would save you more than £80.00 per month! Give us a ring and we can let you know how much we can save you per month!

Six to twelve months ago all of the best Buy to Let mortgage deals came with high fees. With fewer mortgage transactions, these deals have improved. The interest rates and charges have come down and some Buy to Let remortgage deals even come with valuation fee and legal costs paid for. If you have a buy to let deal you would like to have reviewed just give us a ring.

The byword for investors in the past has been Sell in May and Go Away – coming back in September. Often times that will mean the markets drift in the summer months, but it can also mean that fund managers, who are on the ball, can seek to take advantage of deals.

We remain of the view that growth over the next few years is generally not going to come from Europe or the U.S. as they continue with the ups and downs of struggling with the major financial problems that their debt mountains represent, and those of their neighbours. Thus we are of the view that investing in companies with significant investments in China, India, and Emerging Markets are likely to give a better return. With that return, however, also comes more volatile market fluctuations so not a route to take for the faint-hearted.

Equity Release are the words used to describe the process of enabling those who are older to release value in their property for their own use, or sometimes to help family. We find that many people do not understand the options, so here is a simple summary.

There are three basic approaches: The Interest Only Mortgage, The Roll Up Mortgage and The Sale (or part sale) with permanent tenancy rights.