When you can foresee rate increases, your clients will be thankful you warned them Our junior brokers have spent time broadening their knowledge of more complex buy-to-let cases, including intricate investment structures, unique property types or extensive portfolio deals.Īll our brokers regularly meet with lender BDMs to discuss criteria and USPs in depth, so we know exactly where to place even the quirkiest of deals. So, how are we preparing?Īt Mortgages for Business it’s important that our people continue to learn at every stage of their career. When the market emerges from its summer holiday slumber, our team is ready for whatever challenges - cases or market conditions - the autumn throws at us. Over the summer, we’ve taken the opportunity to refocus, re-evaluate and resharpen our mortgage brokerage toolbox. Rest, arm yourself with new knowledge, and prepare to go again when the market inevitably jumps back into action We’re confident, once summer (if that’s what it was) is over, the back-to-reality vibes will kick in, refocusing our clients on their investment plans and finance options, and on the siren calls of purchase opportunities during a property value slump. A few weeks ago, some lenders tentatively reduced rates (causing much excitement in our office), and we’re confident we’ll see more of this over the coming months as inflation declines and money market confidence rises.īut, in the meantime, many property investors with mortgages ending towards the end of this year and into 2024 are biding their time to see if pricing does soften and, if so, by how much. Recently, however, we’ve found ourselves in something of a limbo. The back-to-reality vibes will kick in soon enough I am confident we saved many clients thousands of pounds in mortgage interest by getting them on deals that would have been 2% or 3% higher if fixed at the end of their early repayment charge period. It was clear from money market activity, inflation and other metrics that mortgage interest rates would continue their skyward trajectory. Like many brokers looking out for our clients’ best interests, this spring it was our mission to help anyone with a rate ending within six months to fix onto a new deal as early as lenders allowed. And I’m referring not just to the distinctly un-summery weather. SeptemBy: fair to say this summer has been, well, a bit bleh. Buy-to-Let Watch: The limbo before the rush
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |