June 29, 2020

So it is a Manic Monday! Spoken to a couple of estate agents and the phones are going off the hook. One agent told me that they had 21 offers at a closing date and another said that they had a bid £60K in excess of HR. Bonkers! Just watch because no one knows how long "The Bounce" will last. I'd be cautious right now if I was buying........

June 25, 2020

So here is the dilemma. Your kids want to buy a property but they don't have a deposit and you can't help them out. Borrowing has become more difficult since lock down with very little lending at 90% and above so what can they do? Have a think about The First Home Fund where you can secure up to £25K to put towards the deposit. You will still need 5% to put down mind and I'm not sure the FHF will be around forever given where...

June 24, 2020

Those of us in the property space are counting down the days until the 29th of June which is the date when we enter the next phase of Lockdown Exit. You will be able to go and view properties for renting or buying, valuations will be allowed and you can pop into your estate agent to chat over things. It's been a long road but even this week I am seeing alot more enquiries. I think we will have a bounce. The question is how lon...

June 17, 2020

This is getting ridiculous. Coventry Building Society have a 90% deal on for a week, Accord release a 90% deal then withdraw it after a couple of days then today release it again and to cap to all HSBC are only releasing a certain amount of money at 90% and if you're not there at 8.15am, the money runs out and you have to go cap in hand the next day. The big boys have to show up here. I think that if Halifax go for a 90% then...

June 10, 2020

Looks like the mortgage market is in a bit of a melt down at the moment. As we move towards 18th June and the talk being that estate agent will be back open, the pent up demand is leading to problems. There simply are not enough lenders lending at the higher rates of LTV which means that the ones that are lending at 90% are being swamped. Hearing stories from Accord Mortgages that they have pulled their 90% deals because they...

June 2, 2020

As everyone is gearing up to a return to some housing activity and the "Bounce Back" on 18th June, a shadow has been cast by the CEO of Nationwide Building Society who suggested last week that those who were going to take an extended mortgage holiday should have this reflected in their credit report. This is indeed worrying news for those who may have no option. But if you do, then think long and hard about extending as there...

May 19, 2020

Reading this book by Keith Cunningham called "A Road Less Stupid". It's all about the mistakes that he has made throughout his corporate career. It's fascinating. His premise is about not making dumb decisions and thinking more about your business. Great read! This caught my eye! Hands up if you have employed someone like this? #westendglasgow #jordanhill #glasgowwestend

May 15, 2020

So news has started to filter through that two lenders down south have started valuations. Both Santander and Nationwide along with the BTL arm The Mortgage Works have opened their doors as far as valuations are concerned. Much needed good news for everyone in the property sector. As far as Scotland is concerned, my take is that once the restrictions begin to get lifted here then it stands to reason that the valuations will st...

May 13, 2020

Payment holidays continue to be hot news as lockdown continues in Scotland. There is some good news on the basis that a great number of lenders are still prepared to allow you to do a product transfer if you are coming to the end of your fixed rate deal even if you have taken the holiday. This means that you will not fall onto the higher Standard Variable Rate. Raising additional money on your property when you have taken the...

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