• Mortgage brokers positive about the market
    Fri 08 Mar 2013

    A recent study from Halifax has shown that mortgage brokers are feeling upbeat about the home loan market in 2013.

    The Halifax Intermediaries Confidence Tracker recently demonstrated that 75% of brokers feel positive about how the home loan sector will perform in the near future.

    This marks a 6% increase on last quarter’s figure and shows there is now more confidence in terms in the intermediary part of the mortgage arena. There is now also a higher proportion of mortgage professionals who are "very confident" about the market.

    Ian Wilson, head of Halifax Intermediaries commented on houseladder.co.uk that: "We are seeing a slight easing of funding pressures, leading to an increasing number of lenders reducing rates and launching new products to the market, providing further optimism.”


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  • House market improvement continues
    Mon 25 Feb 2013
    New research from the Halifax House Price Index has demonstrated the property market continued to improve in January. Property prices in the quarter to January 2013 were 1.9 per cent higher than during the previous three months. It was also shown that house prices were 1.3 per cent higher than in the same time period one year earlier, the first yearly rise for over two years. Housing Economist at Halifax, Martin Ellis commented on houseladder.co.uk that: "The Funding for Lending scheme has helped lenders to lower interest rates and improve availability in the past few months." He went on to add that the rise in sale prices is likely to have been assisted by the scheme.
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  • Fixed mortgage rates at low levels
    Mon 25 Feb 2013
    A recent article in the Guardian has revealed that mortgage rates have dropped to the lowest levels seen in 24 years, even for first time buyers with a 10% deposit. It was reported that mortgage rates have slowly reduced since the government introduced the Funding for Lending scheme in August 2012. Recently however, reduced rates mean that potential home owners can access the lowest fixed rate mortgages since 1989 according to Moneyfacts. Editor at Moneyfacts, Sylvia Waycot, commented on guardian.co.uk that: "To put the current rates into context, if you had opted for a two-year fixed in June 1989 you would have paid an average of 12.83%, the least competitive rate was 13.2%, and a five-year fix averaged out at 12.85%." "Recent criticism levied at banks was that they were offering the best mortgage deals in the less risky 60% loan to value (LTV) tier. It is good news on that front, as some very attractive higher LTV loans are at last entering the market." It appears the lower rates are helping more first-time buyers to purchase property. Figures from The Council for Mortgage Lenders (CML) demonstrated that the number of first time buyers coming to the market reached 216,000 in 2012 which was the highest rate for five years.
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