To go along with the re-brand that we launched last week, we feel now is the right time to start our first ever referral scheme.

We are blessed as the vast majority of our work comes from referrals from existing clients, so those of you who have referred us, thank you. If you haven’t, now is the best time to start!

If you refer anyone to us that ends up taking up a mortgage, we will send you a thank you of some Amazon vouchers. The size of the thank you may vary depending on how much the person is looking to borrow, but in the majority of cases it will be around £100.

It is our purpose to help as many people with their mortgage goals as possible, so whatever you are looking to do, whether it is refinance, move, buy for the first time or as a seasoned investor, we would love to help as many of your colleagues, friends and family as possible. Simply connect them to your adviser, or contact us, we would be delighted to help.

Improving economic data

Last week saw a considerable amount of positive news around the mortgage/property world.
In the Bank of England’s rate setting meeting, on 6th August, they voted unanimously to keep rates at 0.1% and to stick with the current stimulus packages that have been agreed (which totals £745b…). That has removed talk of negative interest rates for the time being as they also believe that the recession triggered by Lockdown isn’t going to be as bad as first expected. There is a long bumpy road ahead for economic recovery, but we are starting to see signs of stabilisation and growth in some areas.

Halifax’s House Price Index showed that a ‘mini boom’ in house buying has sent prices up. Nationally, prices were up 3.8% compared to July ’19 and 1.6% up on June ’20. If you are a stat geek (like me) worth looking up the whole report here.

The Planning system is getting a much needed overhaul in a White Paper released by the Govt. New proposals will aim to speed up the building of new homes and regeneration of old sites.

For current homeowners, you would be allowed to build above your property without the need of formal planning. Other highlights include all new homes to be carbon neutral by 2050 and a 30% discount for local people and key worker to make homes more affordable.
However, the plans have drawn considerable criticism and opens up the very divisive issue of putting new homes on our green and pleasant land. Its a very difficult issue but at least it is starting to be tackled.
New referral scheme | Up to £100 of vouchers

Rate Corner

Money Markets pointing up for the first time in a while. That will largely be driven by the Bank of England announcement last week that seems to have quelled talk of negative interest rates for now.

Still no argument for a base rate rise in the next 5 years based on the numbers which is extremely pessimistic, so lets see if some optimism or realism creeps in over the coming weeks.

As it stands, we strongly believe short term deals offer the best value as lenders are cashing in on quite a margin in some sectors (if you have a 10% deposit and looking to buy at circa £1m, starting rates are at 3.47%…).

In the last week:

3 Month Sterling Libor = down by 0.008% at 0.074%

2 Year SWAP = up by 0.015% to 0.116%

5 Year SWAP = up by 0.025% to 0.176%

Best Rates:

2 Year Variable from 1.29%
2 Year Fixed Rates from 1.06%
5 Year Fixed Rates from 1.34%
BTL Rates from 1.14%
The actual rate you will be offered will be dependent on your personal circumstance and deposit level. Please speak to one of our advisers so that they can guide you through this process
Source: Twenty7Tec August 2020

Referral scheme

Our business is built from referrals. If you know anyone that can benefit from our service, please do refer them onto your adviser, or contact us directly for details of our referral scheme. You can see why we are one of the UK’s most highly rates mortgage brokers on our Google Page

For more Information, Market Commentary, Blogs, ‘How To’ guides and much more, please do follow our LinkedIn Page

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