Mortgage Shop Financial Services In The News & Press Release Coverage
Occasionally Mortgage Shop's comments are featured in the press, here you will find some examples of news stories that we have appeared in from Financial Reporter
Occasionally Mortgage Shop's comments are featured in the press, here you will find some examples of news stories that we have appeared in from Financial Reporter
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he launch by Skipton Building Society of a deposit-free mortgage, specifically aimed at renters has taken the headlines by storm. Although there are some 100 per cent mortgages in the market, they are few and the difference is they all require a guarantor. So on the face of it, Skipton’s offering looks like a game changer. The experts give their comments: https://www.ftadviser.com/mortgages/2023/05/16/brokers-call-for-more-lender-innovation-after-skipton-100-mortgage-launch/
As a remortgage and property legal conveyancing company looks to integrate with the AI tool ChatGPT we ask a panel of financial advisers for their opinions on such progress. https://www.financialreporter.co.uk/should-the-mortgage-industry-make-use-of-ai-tools-brokers-react.html
Newspage, asked brokers if they are seeing growing demand for longer-term mortgages due to affordability reasons and as people seek to mitigate higher mortgage rates. One said “30-40 year mortgage terms are becoming commonplace”, while another added that “35 has become the new 25”. See their full responses: https://www.financialreporter.co.uk/longer-mortgage-terms-becoming-commonplace-brokers-say.html
PR platform asked mortgage brokers and financial services tech experts how fintech lenders compare to traditional high street lenders, e.g. what their strengths and potential weaknesses are, if they are stronger in any particular areas, and how much business they place with fintech lenders versus the high street. Some were very skeptical, saying “fintech is the biggest con going” and that the term is used to “establish eye-watering valuations”, while others said fintech lenders “bring a lot to the table” and that “most standard mortgages can go through fintech lenders quite well”. https://www.financialreporter.co.uk/what-are-the-pros-and-cons-of-fintech-vs-high-street-lenders-brokers-react.html
With average mortgage rates not rising as sharply and the number of residential products rising above 5,000 again this week, PR platform Newspage asked brokers if there is a glimmer of light in the mortgage market. https://www.financialreporter.co.uk/is-there-a-glimmer-of-light-in-the-mortgage-market-brokers-react.html
Mortgage brokers have expressed frustration at continued conditional selling in the housing market, with some reporting unfair practices by housing associations responsible for shared ownership schemes. Brokers have argued new rules are needed in relation to conditional selling to help better protect home buyers, read their views: https://www.ftadviser.com/mortgages/2023/05/03/brokers-call-for-new-rules-on-rampant-conditional-selling/
Industry experts agreed that whether a buyer or a seller has the upper hand can differ by location, property type, and more. We asked estate agents, conveyancers, mortgage brokers and other property experts if it's currently a buyers' or a sellers' market. Here are their responses: https://www.financialreporter.co.uk/is-it-currently-a-buyers-or-sellers-market-brokers-react.html
From tomorrow, 1st August, Halifax is increasing the maximum working age using earned income to age 75. Newspage asked brokers what impact will this have on the mortgage market, whether the industry will see a surge in people remortgaging due to the rise in interest, and what the risks are of taking a mortgage to the age of 75. View expert's comments: https://www.financialreporter.co.uk/halifax-ups-maximum-age-to-75-for-mortgage-lending.html
Residential and buy-to-let rates are reducing by up to .29%. Santander is reducing selected residential and buy-to-let fixed rates in its new business and product transfer ranges. Available from tomorrow, selected residential new business rates will be reduced by between 0.03% and 0.27%, and selected new build exclusive fixed rates will decrease by between 0.05% and 0.29%. Additionally, selected buy-to-let fixed rates are reducing by between 0.05% and 0.17%. In terms of product transfers, selected residential fixed rates will be reduced by between 0.03% and 0.10% and selected buy-to-let fixed rates by up to 0.17%. Speaking out qualified brokers welcomed the news and said the fact that a lender the size of Santander has cut should trigger other lenders to follow suit. https://www.financialreporter.co.uk/santander-reduces-new-business-and-product-transfer-rates.html#:~:text=Residential%20and%20buy%2Dto%2Dlet,reducing%20by%20up%20to%2029bps.&text=%22Hot%20off%20the%20heels%20of,to%20keep%20the%20market%20alive.%22
Nationwide Building Society has reduced the interest rate on its green additional borrowing products to 0%. The new 0% green additional borrowing products, which will be available from Thursday 1st June, will enable up to 5,000 households with a Nationwide mortgage to borrow £5,000-£15,000 up to a maximum of 90% LTV across the two or five-year product term. The experts give their opinions: https://www.financialreporter.co.uk/nationwide-launches-0-green-mortgage-product.html
The latest GDP data shows that the economy is estimated to have grown by 0.3% in January 2023 after falling by 0.5% in December 2022 - financial and property analysts give their feedback on how this could play out in the next Monetary Committee Meeting of the Bank of England. https://www.financialreporter.co.uk/will-the-latest-gdp-data-influence-next-weeks-rate-rise-decision.html
