NatWest has recently whipped up a storm with their latest marketing campaign - "Mortgage Challenge". One of the 'big five', Natwest (part of the Royal Bank of Scotland) has opened themselves up to stinging criticism recently as many analysts state that the banks' claim to give you £1000 if they cannot beat your existing mortgage deal is not as transparent as it should be.
Inan artcle from Reuters (London), Julia Harris of independent industry site, Moneyfacts.co.uk claimed it as "something of an empty promise" as there are so many caveats in the smallprint that it was almost impossible to win the challenge and claim your £1000 as the marketing hype suggests.
Aimed specifically at Halifax, Abbey, Lloyds TSB and Woolwich customers, the deal NatWest uses to compare against; a two year base rate tracker at 5.14% is "unbeatable", making the headline seem like merely little more than a ploy to get people through the door without real substance to make it a fair challenge.
To apply for any type of loan or mortgage or for more information, hints, tips and money saving ideas, visit FeelGoodLoans.co.uk
You know it's going to be a bad day when...
Your birthday cake collapses under the weight of all the candles!
Monday 30 April 2007
Friday 27 April 2007
Mortgage Rate Rise Inevitable?
"The Bank of England will raise the cost of borrowing by another quarter point next week.", are the words emanating from many financial analysts today although there are more than a few who are raising fears of an even greater rise.
A story today on The Telegraph website states that The Nationwide reports a 0.9% increase in average house prices for April 07 which means that annual house price inflation now stands at 10.2%. Whilst we have seen yet another price increase, the rate of increase has fallen suggesting that the slowdown has already begun.
We reported yesterday a similar theme from analysts and another rise in interest rates next week could go a long way to cool the house price boom we have seen in recent times. What will buy to let investors do now? Will there be mass mortgage panic - fixed rate or bust? Will repossessions skyrocket? We will try to bring you up to speed in our daily blog. Keep watching!
If you are thinking of applying for a mortgage or a remortgage or are interested in some handy hints, tips and money saving ideas, visit FeelGoodLoans.co.uk
Can a policeman say that...?
"So, you don't know how fast you were going. I guess that means I can write anything I want on the ticket, right?"
A story today on The Telegraph website states that The Nationwide reports a 0.9% increase in average house prices for April 07 which means that annual house price inflation now stands at 10.2%. Whilst we have seen yet another price increase, the rate of increase has fallen suggesting that the slowdown has already begun.
We reported yesterday a similar theme from analysts and another rise in interest rates next week could go a long way to cool the house price boom we have seen in recent times. What will buy to let investors do now? Will there be mass mortgage panic - fixed rate or bust? Will repossessions skyrocket? We will try to bring you up to speed in our daily blog. Keep watching!
If you are thinking of applying for a mortgage or a remortgage or are interested in some handy hints, tips and money saving ideas, visit FeelGoodLoans.co.uk
Can a policeman say that...?
"So, you don't know how fast you were going. I guess that means I can write anything I want on the ticket, right?"
Thursday 26 April 2007
Buy To Let Homeowners To Double
The number of Buy To Let property investors is to double over the next three years, a recent report suggests.
Market research analysts, Mintel as discussed on BBC.co.uk, believe that around 3% of homeowners are thinking of purchasing a second property to let to tenants by the year 2010 which would double the existing number of investors in the market.
Concerns are growing that first time buyers are going to be under increasing pressure to get on to the property ladder and for many, this may already seem an impossible task. The buy to let market may actually be beginning to fuel itself as more and more second properties are snapped up for rental purposes, forcing too many people to chase too few properties which inevitably forces housing prices up and more people into rented accommodation.
On a brighter note, the government are looking at housing schemes aimed specifically at first time buyers and those involved in essential services industries. We can expect more to come over the next few terms of office.
To apply for a mortgage or for more information, hints, tips and money saving help, visit FeelGoodLoans.co.uk
What men really mean when they say...
"I'M GOING FISHING"
Means: "I'm going to drink myself dangerously stupid, and stand by a stream with a stick in my hand, while the fish swim by in complete safety."
Market research analysts, Mintel as discussed on BBC.co.uk, believe that around 3% of homeowners are thinking of purchasing a second property to let to tenants by the year 2010 which would double the existing number of investors in the market.
Concerns are growing that first time buyers are going to be under increasing pressure to get on to the property ladder and for many, this may already seem an impossible task. The buy to let market may actually be beginning to fuel itself as more and more second properties are snapped up for rental purposes, forcing too many people to chase too few properties which inevitably forces housing prices up and more people into rented accommodation.
On a brighter note, the government are looking at housing schemes aimed specifically at first time buyers and those involved in essential services industries. We can expect more to come over the next few terms of office.
To apply for a mortgage or for more information, hints, tips and money saving help, visit FeelGoodLoans.co.uk
What men really mean when they say...
"I'M GOING FISHING"
Means: "I'm going to drink myself dangerously stupid, and stand by a stream with a stick in my hand, while the fish swim by in complete safety."
Wednesday 25 April 2007
Mortgages Down As Rates Go Up
Recent hikes in interest rates may be starting to slow the mortgage market according to the British Bankers Association.
Mortgage lending in March 07 fell to their lowest level for twelve months. Net mortgage lending rose by only £5.1bn for the month which is below the yearly average of £5.5bn.
The Building Societies Association released similar figures and whilst ther is no suggestion of concerns with regards to the economy as a whole, financial experts widely welcome the news. There was a suggestion that the housing market had been overheating which had been seen before to have serious consequences for the British economy. This latest news is no real surprise following three rate increases since last year although many analysts suggest further rate increases may take place through the course of 07.
If you're looking for a mortgage or a remortgage, looking to switch to a fixed rate or even just for more articles, hints, tips and information, visit FeelGoodLoans.co.uk
You're really broke when...
McDonalds supplies you with all your kitchen condiments!
Mortgage lending in March 07 fell to their lowest level for twelve months. Net mortgage lending rose by only £5.1bn for the month which is below the yearly average of £5.5bn.
The Building Societies Association released similar figures and whilst ther is no suggestion of concerns with regards to the economy as a whole, financial experts widely welcome the news. There was a suggestion that the housing market had been overheating which had been seen before to have serious consequences for the British economy. This latest news is no real surprise following three rate increases since last year although many analysts suggest further rate increases may take place through the course of 07.
If you're looking for a mortgage or a remortgage, looking to switch to a fixed rate or even just for more articles, hints, tips and information, visit FeelGoodLoans.co.uk
You're really broke when...
McDonalds supplies you with all your kitchen condiments!
Tuesday 24 April 2007
Fixed Rate Fix?
Mortgage lenders are showing their nerves as key players in the market withdraw their lowest fixed rate deals.
Reuters (London) reports that the Nationwide which is currently the second largest mortgage lender in the UK, has withdrawn its fixed rate products. The Alliance & Leicester, Skipton, Portman and Kent Reliance Building Societies have also withdrawn their best-buy fixed rate mortgage deals.
According to the Council of Mortgage Lenders latest figures, some 87% of first time buyers are looking for fixed rate deals and as a result, are likely to be the hardest hit group.
If you need a mortgage / remortgage / commercial mortgage, or you're looking for hints, tips and money saving ideas, visit FeelGoodLoans.co.uk
You know you're broke when...
Your imaginary friend has more money than you!
Reuters (London) reports that the Nationwide which is currently the second largest mortgage lender in the UK, has withdrawn its fixed rate products. The Alliance & Leicester, Skipton, Portman and Kent Reliance Building Societies have also withdrawn their best-buy fixed rate mortgage deals.
According to the Council of Mortgage Lenders latest figures, some 87% of first time buyers are looking for fixed rate deals and as a result, are likely to be the hardest hit group.
If you need a mortgage / remortgage / commercial mortgage, or you're looking for hints, tips and money saving ideas, visit FeelGoodLoans.co.uk
You know you're broke when...
Your imaginary friend has more money than you!
Monday 23 April 2007
Town Houses Rise To £100k
For the first time, the average house price in every town in the UK has risen to £100k, according to the latest housing survey conducted by The Halifax.
At £104,738 (average price of town house), Lochgelly in Fife is officially the cheapest town in Britain, though this is still someway short of the average for the whole of the UK which surpassed £100k for the first time in February of this year.
With London house prices rising around 14.6% over the past year, this considerably exceeds rises elsewhere in the country: the north-east for instance, rising only 5.6% over the same period.
It has been widely reported that the general conscensus of the mortgage industry believes that a further interest rate rise is inevitable in May to stave off further significant rises. It is extremely important to keep inflation and the property market stable if we are to avoid the 'boom and bust' scenario of the 1980's and 1990's.
Many people are turning to fixed rate mortgages in an attempt to avoid future rate rises as the mortgage is still and by some considerable margin for many, the largest single monthly expense.
You know you're broke when...
You can't afford to pay attention!
Visit FeelGoodLoans.co.uk for more finance articles, hints and tips.
At £104,738 (average price of town house), Lochgelly in Fife is officially the cheapest town in Britain, though this is still someway short of the average for the whole of the UK which surpassed £100k for the first time in February of this year.
With London house prices rising around 14.6% over the past year, this considerably exceeds rises elsewhere in the country: the north-east for instance, rising only 5.6% over the same period.
It has been widely reported that the general conscensus of the mortgage industry believes that a further interest rate rise is inevitable in May to stave off further significant rises. It is extremely important to keep inflation and the property market stable if we are to avoid the 'boom and bust' scenario of the 1980's and 1990's.
Many people are turning to fixed rate mortgages in an attempt to avoid future rate rises as the mortgage is still and by some considerable margin for many, the largest single monthly expense.
You know you're broke when...
You can't afford to pay attention!
Visit FeelGoodLoans.co.uk for more finance articles, hints and tips.
Thursday 19 April 2007
Mortgage Lenders Turn Up The Heat As They Turn Down Applications
A recent survey published results that show for the half-year ending mid march 07, the Uk's mortgage lenders refused more than 460,000 mortgage applications. The largest age group for refusals was 18-34 years old.
A drop in first time buyer applicants, increases to mortgage interest rates, together with house price rises have caused affordability issues and inevitably priced many people out of the market accordinging to MoneyExpert.com.
There may of course, be other ways to finance particular projects that people have in mind however. If you're looking for a mortgage or indeed any type of finance, visit FeelGoodLoans.co.uk for more information.
You know you're broke when...
companies don't call you to switch your service any more.
A drop in first time buyer applicants, increases to mortgage interest rates, together with house price rises have caused affordability issues and inevitably priced many people out of the market accordinging to MoneyExpert.com.
There may of course, be other ways to finance particular projects that people have in mind however. If you're looking for a mortgage or indeed any type of finance, visit FeelGoodLoans.co.uk for more information.
You know you're broke when...
companies don't call you to switch your service any more.
Wednesday 18 April 2007
Well. Here it is.....
Hi there and welcome to my money-blog.
It's gonna find some interesting titbits from around the world on personal finance issues - 'cos that's what we do at FeelGoodLoans.co.uk.
But on top 'o dat, we'll be lookin to provide a few ways of savin money - 'cos that's what you do, right?
Let me know what you think, and if you wanna see some changes, no problemo. I'm happy to help!
You know you're broke when -
American Express calls and says, "Leave home without it!"
It's gonna find some interesting titbits from around the world on personal finance issues - 'cos that's what we do at FeelGoodLoans.co.uk.
But on top 'o dat, we'll be lookin to provide a few ways of savin money - 'cos that's what you do, right?
Let me know what you think, and if you wanna see some changes, no problemo. I'm happy to help!
You know you're broke when -
American Express calls and says, "Leave home without it!"
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