Bank of England Base Rate unchanged as 80% Buy to Let returns!
With uncertainty reigning in the political arena, it is no surprise that the Bank of England has decided to keep Base Rate at 0.5% for a further month. There will also be no resurrection of the Quantitative Easing program for the foreseeable future.
All eyes now on Mervyn King’s Quarterly Inflation Report on Wednesday when we should get an insight as to how fragile the recovery is. We expect rates to stay where they are at least until the following quarter’s Inflation Report in August. We are still predicting a 0.5% Base Rate for the rest of the year, but any prolonged political uncertainty leading to continued weakness in the pound may cause the MPC to seriously look at the interest rates…….
Activity continues to pick up in the mortgage market and we have seen a strong increase in Buy to Let and Commercial mortgage applications over the past couple of months. Finance options are improving all the time and we are pleased to announce the launch of a new range of Buy to Let mortgage products at 80% Loan to Value. This is great news for the BTL Market - Click here for full details. We are also expecting at least 2 new lenders to come to market over the coming weeks.
Last year we were very proud to have won the Best National Adviser award and this year we need your vote to help us defend our title and go one better!
We're pleased to say that Mortgages for Business has been nominated in the categories of:
Best National Adviser
Best Regional Adviser
Best Specialist Adviser
We would really appreciate your vote in the What Mortgage Awards 2010 - Vote now!
Increased
mortgage availability could help property market recover?
Without further
mortgage availability and the removal of other barriers
to recovery, the recent upswing in the house building sector
can not be
sustained, the Home Builders Federation (HBF) has said.
The
latest Construction Purchasing Managers' Index from the
Chartered
Institute of Purchasing and Supply in conjunction with
Markit revealed
that construction activity increased for the second month in
a row with
residential construction levels leading the way, expanding
at its
fastest pace since August 2007.
Buy to let landlords 'should avoid bad DIY'
Buy to let landlords should be careful not to make any DIY mistakes that could reduce the value of their property, home insurer LVE has suggested.
According to research conducted by the company, getting home improvements wrong could decrease the property valuation by five per cent.
Business mortgages affected by construction industry boost?
Those looking for a business mortgage might be interested to know that there was an increase in commercial property activity in April, according to the latest Purchasing Managers' Index from the Chartered Institute of Purchasing and Supply in conjunction with Markit.
The data showed both commercial property and residential property construction have gathered pace following an increase in new orders, while incoming business has not seen this level of growth since October 2007.
what mortgage Best National
Advisor 2009
what mortgage Best Specialist
Advisor & Best
Overall Advisor 2008
* 4.69%, fixed until 31/07/11 then reverting to the Lenders Standard Variable rate (currently 4.99%, variable) for the remaining term. The overall cost for comparison is 5.2% APR. Arrangement fee of 2.5% of the loan amount added to the loan at completion, maximum loan to value is 80%. Early repayment charges apply until 31/07/11. A broker fee of £497 will apply. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
