Already this year, there have been a number of changes in the mortgage application process, but three areas in particular seem to have the biggest impact. The good news is that all three are a positive step by lenders to ease mortgage criteria and open up options that that could save you money on your mortgage borrowing or associated costs. Deposit levels Both residential and BTL mortgages have seen shifts in the level of deposit needed. On the residential front we now have over thirty lenders offering mortgages with a deposit as little as 5% and with no real difference in lending criteria to those who have larger deposits. With parental backing it is now possible to.. 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 →

03 Dec 2015
December 3, 2015

Is Buy to Let still a good investment?

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An editorial from one of the Directors at Express Mortgages on recent Government announcements affecting Buy to Let Landlords: As well as owning a share of Express Mortgages I also own a number of Buy to Let properties with my wife. Naturally you would assume my position would be to play down the impact of Mr Osborne’s “tax attack” on Buy to Let, but unlike many of my industry colleagues I’m not going to do that. We can’t simply ignore the changes but neither should we push the panic button like many media commentators have done. One important point to make is that some properties were a bad investment in.. read more →

Figures released this month show that house prices jumped by another £18,771 on average in just one year to October, now hitting a record high of £205,240. Year-on-year growth stands at 9.7 per cent in October, an increase from 8.6 per cent the month before, according to the latest Halifax house prices index. This is the largest annual increase in UK property prices since August last year. These price increases are being fuelled by the low housing stock and the lack of new sale instructions coming to the market. When you add to this decreasing unemployment, an improving economy, low mortgage interest rates and an increasing supply of low deposit.. read more →