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Archive for May, 2009

Welcome to our blog!

Monday, May 4th, 2009

The mortgage market is looking like it may be making a small recovery, with the latest postive sign being Abbey’s decision to extend it’s loan to value. Their best deals were limited to 60% loan to value, but this has now been extended to 70%. This means they believe that the worst of the house price drops have subsided, as they feel comfortable that 30% equity will cushion them against negative equity.

Those on tracker rates should consider switching to a good 5-10 year fixed rate mortgage. The amount of Government borrowing, allied to inflationary pressures as the economy recovers, indicate that rates will have to rise sharply to fund borrowing and combat rising inflation. There are some lovely 2 year rates, but when they expire in 2 years time, rates will be far higher and those remortgaging at that time will be exposed to much higher repayments.

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