One of the fastest growing sectors in the mortgage industry is that of equity release. A growing number of homeowners are accessing the cash (equity) tied up in the value of their homes, for a variety of reasons such as: Repaying a mortgage Supplementing pension income Gifting to family e.g. deposit for a house Home improvements Dream holiday Moving home For some homeowners a traditional mortgage may still be the best (or only way) to achieve their chosen reason(s). For other homeowners the right choice for them is equity release. Equity release plans allow people over the age of 55 to raise money against their home without the need for further income. At Express Mortgages we can.. read more →

What is changing? The amount you can borrow on a BTL property has been reduced by 4 major lenders in anticipation of regulatory changes. As an example, on a property yielding a rental of £800 per month the maximum borrowing with these lenders will be reduced by around £20,000. This could affect a borrower’s ability to obtain a new product or to expand their portfolio. Will this affect me? It could do. If other lenders follow suit, then these rental calculations could become the norm. One industry insider has said that loan to values could be capped at 65% and one major lender has already cut its loan to value.. read more →

After much encouragement from the major lenders we have put forward two of our hard working staff for awards at the BMA 2016. Stephen Darbyshire (our Director of Specialist Lending) has been nominated for Best Broker: Buy To Let and Ruth Huntley Jacobs (our Director of Operations) has been nominated for Technology Advocate If you agree with the nominations (and you have a spare two minutes) we would really appreciate it if you would nominate Stephen and Ruth for their respective awards. We are extremely grateful in advance for those clients who choose to help us. By selecting the different categories you’ll be able to submit as many nominations as you decide. Voting closes on.. read more →

A recent industry wide survey by the Intermediary Mortgage Lenders Association (IMLA) demonstrates that Express Mortgages is one of the top performing brokers within the UK. On average, a Mortgage Broker will complete 69% of all applications they submit on behalf of their clients. Of course many brokers complete an even lower percentage of applications, Express Mortgages however had a completion rate of 83% in quarter 4 of 2015. IMLA concludes that the best brokers are, “evidently highly effective at matching borrowers with the product best suited to their needs, and we expect them to build upon this success as they continue to get to grips with adjustments to the.. read more →

It’s the time of year to be jolly. Lenders are usually pushing hard to reach their lending targets, in order that the numbers to the city for the year and the shareholders report due in January will look rosy. Furthermore, these low interest rates will not last forever, and not just because the lenders are fighting for the last embers of 2014 business. Many analysts expected the Bank of England to raise the basic rate of interest when unemployment dipped below 7%. Unemployment fell beneath the target, but the Bank of England did not act. Unemployment is now around 6% and the latest independent economic projections are suggesting that GDP.. read more →

Landlords are increasingly confident about the availability of buy-to-let finance. This is according to new research from Paragon Mortgages, which shows rental property owners are now more optimistic than they have ever been since the financial crisis struck. Some 44% of landlords told the organisation they thought buy-to-let finance was readily available in the first quarter of 2014. This represents a 2% increase on the year before and is the highest figure recorded since Paragon started the survey in 2010. John Heron, the company’s Managing Director, stated: “The availability of buy to let finance is vital to a healthy and competitive private rented sector.” “As the market has recovered we.. read more →