introducing steve mears – independent financial advisor the money man
Will they ever learn?
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As I start my 30 th year in the World of Mortgages and Finance, I have seen all sorts, but it never ceases to amaze me how short the lenders’ memories are.
” “ …I think the rates we can offer for all types of borrowing are the best we will see for the remainder of my career… Also, anyone looking to re-mortgage should now be chatting to us around 5-6 months before the end of their deal, as we can even secure rates that early with some lenders. As usual, my advice to anyone with any borrowing at the moment, is to make sure that they have the very best deal available to them, as a consultation costs nothing but a little time. Also, with Buy to Let mortgages, it’s now even more important to get your payments down as much as possible, with the new taxation rules staring to bite. We also now believe that an accountant is a friend indeed for all landlords, to ensure that all expenses are off-set. We are always available at the auctions to have a quick chat, or our office is on Alma Vale Road, right around the corner. Happy bidding and we hope to talk soon.
I have just seen representatives from 2 lenders, who calmly announced that they can now offer 5.5 and even 6 times income! This is obviously a useful tool for a professional broker, but deadly in the wrong hands. With rates still at historical low, payments seem affordable, but we all know it will change at some point. One of the lenders also specialises in lending to people who have a track record of not repaying loans or credit cards, what could possibly go wrong? At least though, I am not moaning about lenders not wishing to take any risks, which stifles the whole market, but I think a reality check is overdue with some institutions. As I have said before, I think the rates we can offer for all types of borrowing i.e. Mortgages, Secured loans, Bridging, are the best we will see for the remainder of my career. I just get the feeling that, when watching the news recently, that rates can only go one way. I am not in any way predicting 15% Base Rates again, but any major increase would make a big difference to a households’ finances. I have always liked Fixed rates personally, and although you could pay more, the certainty of knowing what you will be paying for a period looks more attractive than ever, especially when borrowing towards the maximum available.
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Please remember YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE .
to contact Steve, email info@stevemears.com , telephone 0117 973 4300 or to find out more about Steve Mears Independent, visit www.stevemears.com
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