Weekly Mortgage Market Update 4
11.02.19It’s been a pretty good start to the year in general, with a good level of leads coming through from potential clients who seem to be more serious about doing something than many were last year.
What consumers really need is some guidance amidst the messy political fog at present. Which is why you can all feel safe when Governor of the Bank of England Mark Carney states that interest rates may go up or down. I guess that’s why he’s paid the big bucks!
Meanwhile, Coreco has been busy in the press with comments on BBC news talking about the market in general in this extract:
“”It’s a very good time for people looking to borrow,” said Andrew Montlake, a director at Coreco, a mortgage broker. He said there had been a lot of competition among lenders in January, with some very good deals for five-year fixed mortgage deals. Some lenders are offering five-year fixed deals at below 2%, he said.”
The full article is here
Elsewhere, we also appeared on ThisIsMoney.com TV talking about the property, mortgage and buy to let markets. If you have a spare 20 mins on the train home you can see this interview here:
Finally, some good news for those affected by dreaded Japanese Knotweed. A new report shows that this issue should be completely under control, though not until 2040!
Mortgage rate wise things are still pretty much the same. For standard residential mortgages, borrowers can obtain 2-year fixes at 1.40%, (3.78% APRC) and 5-year fixes from 1.80%, (3.36% APRC) whilst variable tracker rates are around from 1.34%, (3.82% APRC).
Those looking at Buy-To-Let can still obtain products from just 1.44%, (4.44% APRC) for a 2-year tracker or 5-year fixes are available from 2.02% (4.03% APRC).
Written by Andrew Montlake
Andrew Montlake, better known as Monty, began his journey with an Hons degree in Economics & Politics before starting in the mortgage industry in February 1994. As a main founder of Coreco in 2009, he successfully grew the brand, marketing, and communications, and was made MD in 2019 focussing on the overall vision, strategy, and culture of the company. As Coreco’s media spokesperson, Andrew can often be seen or heard on TV and radio as well as regularly commenting in the national, local, and trade press. He is the author of this acclaimed Mortgage Blog and is well-known for his social media, podcasts, and public speaking. Andrew is now proud to serve as Chairman of the Association of Mortgage Intermediaries, (AMI) as a cheerleader for the Mortgage Industry as a whole and continues to work at the coal face, writing mortgage business and advising clients.
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