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Lending Market Overview – Update August 2020

We could have, perhaps more accurately, titled this piece, why you need a mortgage adviser more than ever. Which in the difficult Covid property market, has never been truer.

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Covid-19 - Working with Charles Derby Mortgage Bureau and your Advisor

As we all know, in most parts of the country, businesses are starting are get back to normal and for us that means face to face meetings are back, assuming you want them. We are now operating an “It is up to you and your adviser” policy.

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Post COVID & Lock Down – Thoughts - Driving Change

As lockdown starts to ease, what impacts on business were temporary, and which are likely to be permanent. Was everything bad or did some good from being forced to adapt?

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Lockdown – CDMB and Our Advice Proposition

Mortgage & Protection advisory businesses, like so many other UK businesses, are suffering quite a degree of turbulence and uncertainty as this pandemic continues. Lockdown and the governments advice to put off moving if you can, is clearly having an impact upon the housing market and some advisory businesses across the breadth of the UK are feeling the pinch.

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Stuck on Standard Variable Rate, Fixed or Discounted Rate Ending – What’s on Offer

Product Transfers are a lender led innovation, a good one, that have come to the fore in recent years. When a fixed rate or discounted, fixed term deal is coming to an end, it is typically the time you start looking around the high street lenders that are available to you, to see if you can secure a new deal.

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Mortgage Market and Covid-19 Update

If you had been thinking about moving, re-mortgaging, consolidating or anything property finance related, you may be concerned about the mortgage market and the effect Covid-19 is having. You may have heard that lenders are temporarily closing their doors to new business?

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STOP PRESS: Covid-19 & Later Life Lending

We were a bit wary about posting this comment as we would hate to be thought of as using a bad situation, to generate business. However, after weighing up the pros and cons, we decided the upside is greater than any potential reputational downside.

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Mortgage Rates/Lenders Reacting to Covid-19

he sudden unexpected decrease in the Bank of England base rate to 0.10% to combat the effects of Covid-19 caught the market by surprise and in particular mortgage lenders offering base rate tracker products. Consequently, the market adjustment to this incredibly low rate, saw many lenders move to withdraw their tracker products immediately and to rethink their strategy.

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Shared Equity Mortgages

If you have one of these you ought to be aware of the following:- Since the mid 2000’s a number of New Home developers offered shared equity schemes (SEM’s), which meant the developer lent you a percentage of the value of the new home, typically 15%-40% max, normally for a 10-year period. At the end of this term the percentage owed to your builder, contractually must be repaid, based on the current value.

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