Choosing the right lender can be confusing and time consuming. Should you take out a fixed rate and for how long? – two, three or five years, or should you take out a Variable/ Tracker rate ?” They are just a number of questions people…
Category: General
We do in 3 days what another mortgage broker couldn't in 3 months...
Client’s Situation Manchester Mortgages received a phone call on a Monday morning from a lady who had put in an offer on a property in Northenden, Manchester, 3 months earlier and was still waiting for a mortgage offer from the lender chosen by another broker.…
Getting a mortgage if you have a recent default
Situation Our clients had been living and renting a property together for 2 ½ years paying £800 per month. They had accumulated a deposit of £20,000 through savings and a small inheritance. Both have been in long term employment (In excess of 10 years each)…
What to do when your bank will no longer lend to you
Here’s an interesting post that may resonate with reader’s who have found themselves in a similar position… Client’s Situation Our clients were First Time Buyers who both had Halifax Help to Buy Isa’s, a joint Halifax savings account and bank accounts with Halifax & Lloyds…
Swap rates & interest rates
According to James Connington at The Telegraph, the low interest rates we’ve been enjoying – following Brexit and the Bank of England cutting its central rate to 0.25pc last year – could be set to rise in the near future. However, for the time being,…
Divorce and Mortgage Problems - A Case Study
In this interesting post we look at how divorce and separation affect your mortgage. Client’s Situation Manchester Mortgages received a call from an existing client of 9 years. Our client was separated from her husband pending legal divorce, was in her mid forties with no…
Conflicting views of activity in the housing market
Despite the numbers of mortgage approvals falling in February for the first time in six months, the Council for Mortgage Lenders remains positive that the housing market is returning to the activity levels last seen at the beginning of 2016. However, activity has not been…
House price bidding wars - a familiar story?
Getting into a bidding war is something that can happen to the best of us when we’ve seen our dream home – but what happens if you’re having to pay over the asking price? CLIENTS’ SITUATION Our clients were married in their early 30s, with…
My First Time Buyer Experience
This week I’ve been considering how difficult it is for first time buyers to get a foot on the property ladder. I got my first mortgage in 1991 and at the time the house I was buying was for sale at around £35000. I needed…
Buy to Let - Back in the Day
There was a time, some 10 years or so ago that I was considering becoming a buy-to-let landlord. I had amassed sufficient money to have some surplus cash and also my cash flow was good. The difficulty was house prices in the whole of the…