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Increase in rents perking up buy to let mortgage rates

[ Posted July 29th, 2011 ]

Rental prices have astounded those who follow the buy to let mortgage market once again as they reached record highs over the course of the month of June increasing by another .7% compared to May and crossing over the average barrier of £700 per month. The reason for the sudden increase is thought to be the fact that many first time home buyers that are not able to get a mortgage of their own are now flooding the rental market making it an ideal time to take a look at buy to let mortgage rates and consider investing.

The average rent has been increasing steadily over the last year as many first time home buyers find that as a result of stricter lending rules and the credit crisis they cannot obtain a mortgage for a home of their own. London has seen the greatest increase in rent prices with prices reaching up to £1,006 on average during the month of June which is a yearend increase just shy of 7%. Also seeing large rises were the regions of West Midlands and the North East where the mortgage rates and credit crisis have kept housing prices depressed.

In terms of year end increases, the West Midlands saw their rents increase up by 4.6% and the North East saw its average rents increase by about 5%. Over the past month of June these two areas also saw their rents increase with the East of England seeing an increase of 1.6% and the West Midlands seeing an increase of about 2%. Despite this fact, rental prices did fall in other regions over the month of June including Yorkshire & the Humber, the East Midlands, and the South East.

LSL Property Services agent David Newnes stated that tenant demand seems to be continuing to reach higher peaks every month and with the intense demand for rental properties in areas such as London it is not uncommon for those who invest in the buy to let mortgage rates they find see their rental properties let in the first day that they become available. With this thought in mind, those who have extra cash and the ability to make an investment may want to take a second look at the rental market where it seems a great deal of opportunity lays at this moment.

Yorkshire Building Reduces Mortgage Rates

[ Posted July 28th, 2011 ]

The Yorkshire Building Society has taken a close look at the products it offers as part of its mortgage range and decided to reduce the mortgage rates on many of the products including the decision to reduce and cut interest rates on their entire fixed rate mortgages offered on two year terms. In addition, the company also decided to cut interest rates on their fixed mortgage rates for five year commitment terms as well. As a result, the building society is now able to offer competitive rates to those in need of a new mortgage.

This is good news for those who appreciate the history of the Yorkshire Building Society in the UK as it is the second largest across the UK with its head office situated in Bradford, West Yorkshire. Its assets are valued to be worth more than £20 billion due to the fact that over the years it has grown from a single building back in 1864 to expand into its present state as a result of numerous mergers and expansions. Thus, those seeking out the best mortgage rates can rest assured that their certified mortgage will be safe with the well known lending agent.

Starting this week the homebuyers will be able to purchase two year fixed mortgages that start as low as 2.89% for a home that is priced at the medium value of about £160,000. This would result in the mortgage costing the average home owner about £756 per month. On the other hand, first time home buyers that want a starter home can also benefit for the same two year deal as a £90,000 loan would see them paying about £425 every month over the period of 25 years at which point the loan would pay itself off.

Those who want to secure their low rates for a longer period of time for two years may be interested in the five year fixed rate product that starts with an interest rate of 3.89%. For those who purchase a home at £160,000 this would result in a £843 monthly mortgage payment. Home buyers that are more concerned about attached mortgage fees will also want to look a the new low fee option that is being offered by the building society which will see mortgage fees start out at a minimum amount of £95.

Interest rate holds steady keeping some of the best mortgage rates out there

[ Posted July 15th, 2011 ]

The Bank of England has decided for another week to keep the interest rate stalled at a low .5% which has in turn kept the best mortgage rates that some companies have been offering steady. The Monetary Policy Committee also decided to keep their Asset Purchase Programme set at £200bn. The news does not surprise many who have expected interest rates to hold stead, but for those with tracker mortgages is good news even though it is predicted that by the end of the year they will increase.

Mortgage broker firm manager Ben Thompson stated that the best guess is that the interest rate will stay unchanged over the rest of the year and in most likelihood people will not have to worry about seeing their mortgage rates jump up again until the end of this year. He added that by the middle of next year inflation will set in which may make the interest rate spike over the total of 2% that the Bank of England predicts it will be set at by the close of next year. He added that they have seen many consumers that are concerned about getting a mortgage for this reason.

According to a survey published by Legal & General Mortgage Club some consumers are concerned that if they apply for a mortgage they will not have the equity or credit later to get the amount they can borrow which is why some are still holding back from acquiring a mortgage now even though right now is when the best mortgage rates are available. At the moment, for those who can afford to do so now is the best time to secure a good mortgage rate before the rates change.

On the other hand of the spectrum, for those who can afford to, now is also the best time to pay any savings or funds possible on an outstanding mortgage debt before the rate increases since it will reduce the amount of interest they end up paying on their mortgage. Borrowers need to keep in mind that while right now the interest rate is still looking good over the next six to 12 months there will be a large change that could affect the budgets of homeowners that are not prepared to see their mortgage interest or payments increase.

More of the best mortgage rates on the way

[ Posted July 14th, 2011 ]

For those who are looking for a mortgage rate before the interest rate goes up now is the best time given the fact that many banks are dropping their mortgage rates in order to stay competitive with each other. In fact, some of the biggest banking firms on High Street have been lowering their rates and their final costs in order to drum in new interest before the Bank of England increases the base rate and makes the idea of securing a mortgage a bit more intimidating to the general public.

Northern Rock is just one of the latest banking firms that have lowered their rates in an attempt to offer some of the best mortgage rates on the market. As part of their new deal all of their two year fixed mortgages will now be offered without any product fees with fees that start at a low 3.25% for those who are looking to remortgage and those that are new purchasing customers. Those who prefer the stability of a three year fixed rate will also be able to get a mortgage without a product fee at the rate of 3.64%.

As part of a standard Northern Rock remortgage the lending agent also offers standard free valuations of any properties in question as well as legal package both of which are provided via intermediaries that are fully certified and registered with Northern Rock. The mortgage company has also changed a few of its core products making reductions to its trackers, fee saver, and buy to let mortgage rates making it useful for anyone in the market for a mortgage to check out as now is the time to take advantage of the low offers before they are off the market.

Also offering low reduced mortgage rates on fixed rate mortgages is Leeds Building Society which has dropped its two and three year fixed mortgage rate products. Those who want to take advantage of the two year fixed mortgage deal will be locked in at a mortgage rate that is set at .3% and for a three year fixed mortgage at .4%. They also offer free valuations and legal fees for everyone that is seeking out re-mortgages and will not charge their standard lending charge for those who stop in and meet with a mortgage agent.

Mortgage rates are quickly turning market into a rental market

[ Posted July 8th, 2011 ]

With the economy still down and the threat of redundancies hanging over many buyers, many first time home owners are afraid to make the large leap even with the mortgage rates taking a turn downwards.  Due to this fact, instead of heading into the banks to take up a mortgage loan many buyers are now instead heading towards the rental market looking for a place that they can rent to avoid the threat of foreclosure or the unknown occurring causing them to drown in debt.

Adding to the fact that many new home owners are afraid to take the plunge is that with the credit crises many potential first time home buyers simply cannot get approved for a mortgage.  Due to the fact that extremely great credit is needed now to secure a loan, a large amount of first time buyers without the credit history cannot get approved for the large loan that they need.  Therefore, even with the average mortgage rate decreasing they still cannot get their feet onto the housing market pushing them into rentals helping to propel the rental market even more.

With this thought in mind, those who can afford to make an investment into the rental market will want to do so as now is the time to reap large rewards for their small housing purchases.  Although you will need to have a deposit in order to get into buy to let mortgage rates, the turnaround will be quick since you will quickly be able to see the rental returns.  As there is a large amount of renters and a shortage of rental properties finding tenants should not be a problem allowing you to quickly benefit from your investment in the short term as well as the long term when it comes time to sell and move on.

Commercial mortgage rates going down

[ Posted July 7th, 2011 ]

For those that are interested in investing in business development the news is positive as commercial mortgage rates are finally starting to echo the housing market as they are decreasing as well.  This is good news as those with a vested interest in investment are starting to benefit from the decrease in the mortgage rates making investment a more viable option at the moment.   While there is product fees attached to many of these deals, those with the upfront cash are taking advantage of the deals on the market.

This is due to the fact that most returns on a commercial mortgage property are now anticipated to be up to as high as double in just ten to twenty years.  Therefore, if you have the capital to make a large investment in a development now is the time as the overall market prices are low and the promised return is expected to be high.  While it may take some time to fully see the results of the investment, it is known as a rental market right now and those that have commercial space to rent will see the high rewards of their actions.

With this thought in mind, if you have the capital to invest as a business man or even just privately now is the time to consider taking a look at the different commercial mortgage properties available on the market to see what options are in front of you.  Due to the fact that there are now an increasing number of deals available on the market there has never been a better time to invest in properties that will eventually show a large reward and profit for those that take advantage of the many opportunities out there in the recovering economy.

Northern Rock offers their best mortgage rates yet

[ Posted July 4th, 2011 ]

For those that are considering a new mortgage package, buy to let or simply those that are mulling over a new home purchase, Northern Rock is offering their best mortgage rates yet by dropping their mortgage rate down by almost another 70%.  Among the strong products that it has dropped the mortgage rate for are its remortgage packages, purchase packages, and on deals designed to target its buy to let consumers.  With the new slashes some of the rates offered by the bank are the lowest in existence across the market/

Most impressive for Northern Rock is its huge slashes on buy to let mortgage rates which are at times cut by as much as 17% making a rental investment in property one that is certainly worth your consideration.  The lender has also been able to improve the two year fixed mortgage rate that it offers through its intermediary partners as well making it a great location for everyone in the mortgage community to consider.  These are just a few of the many products that are now being offered by Northern Rock which is quickly becoming known as one of the lowest mortgage companies to work with.

The new fixed mortgages package is available now to customers that are willing to pay an upfront £995 product fee in exchange for a low remortgage or purchase rate of 2.89%.  Attached to this new deal however is also a high first time deposit of 30%, or a 70% LTV, making it impossible for many first time home buyers to actually consider the deal.  There is also a three year fixed rate exclusive available to potential candidates at 70% LTV that does not have a product fee but offers a slighter higher mortgage rate at 3.82%.

Those in need of a remortgage will also want to take advantage of the incentive offered by Northern Rock for a free basic valuation of their home along with free legal costs provided by the banking institute.  Those interested in buy to let packages will want to turn to the two year fixed rate mortgage that offers a 3.24% mortgage rate with an attached 3.5% product fee that starts with a 60% LTV.  The banking institute also has a two year fixed rate mortgage for two years that ranges between 3.5% up to 3.59%.

Although mortgage rates are down customers need to be careful of arrangement fees

[ Posted July 1st, 2011 ]

Lenders have been announcing many of the best mortgage rates that they have offered this week, but although the rates may be attractive to many customers’ experts are warning that they need to pay attention to the high arrangement fees that may be attached to them.  According to experts, the mortgage rate alone is not enough to determine if a mortgage is really a good deal or not, because with the standard for arrangement rates varying from as low as zero up to almost £2,000 the total cost may not really be such a great deal.

Instead, experts are stating that it is important that work out what the entire cost of a new home mortgage package will be including mortgage term fees, monthly repayments, arrangement fees, and then the mortgage rateThis is due to the fact that a low mortgage rate may seem attractive at first but over time will actually be more expensive when you add in the other fees that you have to pay.  Due to this fact, getting aid from a mortgage broker or taking the time to investigate all the options on the market available to you may be more beneficial.

For instance, if you look at a new two year fixed mortgage rate that is being offered from First Direct at an overall rate of 3.89% and a 35% deposit that also comes with free legal work and valuation if you sign into the deal as part of a remortgage.  This may seem advisable, but the monthly repayment fee will sit at £783 for the average £1500 mortgage with a  total cost to the mortgage over two years that would add up to cost £18,792.

On the other hand, by shopping around and looking at the same bank where the same deal is offered with a lower mortgage rate of 3.29% if you are willing to pay a £4999 fee you can actually get a better deal over the long term.  This is because over a two year period the monthly repayments would actually only sit at £734 saving you a bit each month on a £150,000 loan and making the total cost to the home owner only £18,115.  Thus, by paying a bit more upfront you actually save £600 over two years which is why careful consideration of all aspects of a mortgage deal is vital to getting a great deal. aims to provide every client with cheap, affordable and best mortgage loans in the UK market, however the actual mortgage rate available will depend on client's financial circumstances and credit history. Although, has made every effort to ensure that the mortgage rates listed are correct, it bears no responsibility in case of an error. 
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