The Mortgage & Insurance Shop

For anyone buying, remortgaging, or end of fixed rate switching, you should be aware that lenders have been putting up their interest rates more quickly than the Bank of England. So what's going on??

The reason for this is that lenders mostly fund mortgages by external borrowing using what's called 'swap rates'. So they buy the money in at one rate and lend it out at that rate plus a margin. 

To show whats going on at the moment, a 2 Year swap rate is currently around 2.374%, but in July 2021 it was  0.049%. Swap rates are based off current assumptions,so factors like inflation,the conflict in Ukraine, prices, fuel, gas prices and the general economy, will feed into where those forecasts come from. 

So it's more important than ever to get the correct advice on your new or existing mortgage rates. Give us a call and we'll guide you! 

What are they? Cancer , Heart Attack, Stroke and Multiple Scelerosis.

Most insurers will cover these but use specific scores or definitions to work out if there is a valid claim or not. BUT there is one insurer that does not use anything other than a consultants' diagnosis letter to pay out. 

Find out more by contacting us.

House prices have been on the up locally for a while now and have accelerated on our way out of the pandemic.

So what's driving this? 

Mainly its to do with supply and demand. There just isn't enough supply of properties to satisfy demand. This then pushes up prices. So for new mortgages, there can be issues with getting the correct mortgage figure and working out the deposit. Recent interest rate changes are def helping. 

And there aren't enough new houses being built. Many builders are struggling to get a supply of trades to work on sites, and a lack of adequate finance leaves many building 'on the drip', which means it takes a lot longer for sites to complete.

The cost and supply of materials is also causing problems in costing building projects. Its important to get the correct mortgage provider if there's going to be a long period between the holding deposit and getting the keys. Mortgage offers (and the interest rate with it) can go out of date. Does that mean a new application? 

We can access all the mortgage lenders for N.I, so let us do the heavy lifting, check the fine print, and get you the best fit for your circumstances!