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Leeds Building Society Cuts Fixed Mortgage Rates

[ Posted August 12th, 2011 ]

Following the trend of major banking institutes that are slashing their mortgage rates in an attempt to lure new mortgage owners into their doors Leeds Building Society announced new lower fixed rate mortgage rates for those willing to sign into a two year fixed contract.  Perfect for those who like the financial security of knowing what their monthly payments will look like, the new mortgage rate starts as low as 3.14% for those who are able to pay a loan to value ratio of 80% by putting down a 20% deposit. 

Those that are unable to put down such a large mortgage on their fixed mortgages will also find the 85% LTV two year fixed package interesting with an attached interest rate that sits at 4.05%  Each of these rates has been slashed by about a full .5% and represent some of the lowest rates available on the market right now.  Included in the new mortgage products is also a quarter discount on the price of Society Homecover insurance if new mortgage owners decide to sign up for Society insurance.  The discount cannot be applied to other home insurance coverage from any other company.

Also included in the deals are free financing costs such as the absence of a lending charge and ten percent of all capital repayments can be made in addition to the monthly mortgage payments without concerns that there will be penalties for early pay-off.  One of the reasons that Leeds and many other mortgage brokers are able to offer some of the best mortgage rates is the fact that the interest rate has continued to stay low, and even more, now experts are predicting that it will be another six months or so until the rate finally goes up allowing enough time to help homeowners get a leg up on the market.

Sales & Marketing Director for the Leeds Building Society, Kim Rebecchi, stated that this is a great chance for borrowers to get locked into low monthly payments that they do not have to worry about increasing over the next few years.  She added that the products allow customers to rest easy that they will be able to afford their monthly payments since the price is locked in for the full two year term.  Given the fact that once the base rate jumps up mortgage payments will jump along the security of knowing the future is hard to replace.

Northern Rock offers low mortgage rates and cash back

[ Posted August 8th, 2011 ]

Northern Rock has come up with a new series of mortgage products to entice new customers to take a second look at the mortgage deals they have to offer.  Like most lending agents, Northern Rock has dropped their mortgage rates in an effort to get consumers to take a second look at them because with the interest rate predicted to sit in place for a great deal longer and swap rates down they have to do something in order to get renewed mortgage interest in through their doors.

In order to get customer through their doors, Northern Rock is now offering new deals that offer cash back incentives that are tied to some of the best mortgage rates out there on the market.  The goal of the cash back offers is to give the customers money upon the completion of their mortgage deal to help them get some extra much needed cash to cover the mortgage costs or the costs that are associated with moving to a new home such as packing or purchasing new furniture.  As mentioned, the mortgage deal must close first before a consumer receives their cash back for signing into a mortgage with Northern Rock.

The cash back incentives will be available for a large range of mortgage products so that all types of customers can benefit from the deal from those that are first time home buyers to those that are interested in switching to a fixed mortgage to those that are out researching the buy to let mortgage rates so that they can become a landlord.  The incentive also ranges as high as GBP750 which is an enticing offer for those who want a low rate and a little bonus to help make the move a little more beneficial to their situation.

For those that can only afford a deposit of 10-20% there is also an offer of GBP500 on some of the residential mortgage offers with interest rates set down as low as 3% making them enticing deals to those who are in the market for a new home.  All buy to let mortgages are offered with the attached GBP650 and a few residential products as well including several trackers that are set at 2.38% or higher and a few standard deals set at 3.5% or higher.

Types of different home mortgage options

[ Posted August 2nd, 2011 ]

When it comes to making an investment in a new home for you and your family that will help you build up your equity and help you build a future of memories, you want to make sure that you choose the best mortgage rates and the best mortgage option overall to make the purchase practical.  One reason that the housing market fell so sharply is because when the economy fell into a recession many people were forced out of their jobs and thus found themselves in foreclosure due to high monthly mortgages.  However, if you choose carefully, you will not have to worry about your mortgage getting out of hand.

There are many different types of mortgage offers out there, and they can be confusing, so it may be helpful to take a look at three of the most popular home mortgage options that are available to homeowners.  The first, and most likely the most popular is that of fixed mortgages, in which you sign into a mortgage rate for a set amount of time and are guaranteed that your monthly mortgage rate, and thus payments, will not change.  For those who like to have complete control of their budgets at all times this is an excellent option and one that will not cause much worry down the line.

The second type of popular mortgage option is the tracker mortgages, sometimes also referred to as standard variable mortgages.  These mortgages are attractive because the mortgage rate is based on the interest rate, which means that it can vary from time to time but when the interest rate is low, your monthly payments are low.  Right now this type of mortgage can be very attractive, but mortgage seekers should beware that when the base rate goes up so will their monthly payments so it’s important to calculate carefully if this is something your budget could handle.

Growing in popularity over the last few years is the option of offset mortgages, in which you pool several accounts into one so that you can reduce the loan terms and the amount of interest that is attached to the loan.  This can be an attractive option for those who want shorter mortgage loan terms but also want lower mortgage rates to go with them as the combined accounts gives you more leverage with the lending agents.

Commercial mortgage movement increasing in several regions outside of London

[ Posted August 1st, 2011 ]

For quite some time now, the commercial mortgage market in London has been climbing upwards after a few years of stalled activity due to the recession and the credit crunch.  This has been seen as a stepping stone to more employment, but the increase seen in London has not been reflected in many other areas of England.  However, now several regions are seeing their commercial property markets start to increase in a move that is welcomed by plenty of workers and developers who see the switch as a sign that the economy is started to stabilise and broaden.

Regional commercial mortgage rates are starting to get a bit better outside of London due to the low Bank of England base rate which has helped make property purchases a bit more attractive in regional areas of the country.  While performance of the commercial market is still at its height in London, there are several other areas that are beginning to see that as the amount of renters continues to increase now is the time to act to cash in on the high market value of rental properties.

Chief executive officer and capital market head Ezra Nahome of Lambert Smith Hampton stated that most of the focus of commercial mortgage activity has been in London over the past few years but still compared to a few years ago the regions are starting to see their commercial property get a bit more attention and higher performance figures as well.  He added that in Scotland there has especially been a high amount of focus on the office sector market and that office space in the cities in particular has been the focus of a great deal of activity.

He also added that the Thames Valley market is seeing a great deal of tenant demand driving  a lot of commercial products as well, because as the need for rental properties increase property developers that are savvy on investments are going to get them built to accommodate.  This has also been reflected throughout most of the UK as larger cities such as Manchester, Edinburgh, and more have seen their rental rents sharply increase as more people are seeking rental properties due to an inability to get a mortgage or fear of taking a mortgage in the uncertain economic times.

 
 
 
 
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