The Government have released many schemes over the past 10 years which have the ultimate aim of helping First Time Buyers (FTB’s) onto the property ladder.  These range from shared ownership schemes to receiving interest free loans for the first 5 years to help with a deposit.  The biggest and most successful scheme, in my opinion, has been the Help To Buy ISA and its successor the Lifetime ISA, with 1.2 million being opened as of August 2018.[1]

However, the biggest question people are finding is which one shall I take out as I cannot use ...

Today in 2019, there are thousands of people across the United Kingdom that are currently paying a Standard Variable Rate which could be due to a number of reasons including their product has expired and haven’t found find time to change deals. 

With the average Standard Variable Rate being 4.9%, the average 2-year fixed rate deal 2.51% and five-year fix rate deal 2.92% in December 2018[1], this means that around 3.5 million people are paying an extra 2.39% or 1.98%. 

To put this numerically, for an outstanding mortgage amount of £200,000 ...

Purchasing a property is likely to be one of the biggest financial decisions someone will ever make. No matter how many properties you’ve bought in the past, the world of mortgages can feel like a minefield…

Where can I find a lender? What type of rate is best for me? What rate can I get? What can I afford? How do I apply? How can I know I fit the lender criteria? How long does it take? What if there’s a problem with my application?

And the list goes on! As Mortgage Advisers, it is our job to know the answers to these questions and to guid...

Being a first-time buyer in today’s property market is not as easy as it was 30 years ago, with millennials at age 30 being 50% less likely to own a home than baby boomers at the same age[1].  There are a range of issues that first-time buyers face and whilst government regulation has tried to address these, the problems are ultimately far greater than any legislation could change overnight.

Income Multiples

From the perspective of a mortgage adviser, the affordability for mortgages isn’t as bad as what individuals imagine it to be.  With ...

LAST WEEK – KEY TAKEAWAYS

MONETARY POLICY: FED CHANGES TONE

• US equities rallied as Federal Reserve chairman Jay Powell said interest rates are approaching the neutral rate- the level that neither boosts or slows economic growth- and insisted ‘there is no pre-set policy path’; 
• The previous month Powell talked about rates probably being a ‘long way’ from neutral. 
• Omnis view: Powell’s comments suggest the Fed may slow the pace of monetary tightening in 2019, although a rate hike remains likely at its December meeting.

GLOBAL TRADE: T...

Six years on from the launch of Automatic Enrolment in workplace pensions figures show there are close to 10million UK workers saving for retirement. But a recent Office for National Statistics (ONS) survey revealed 13% of people believe they don’t know enough about pensions to save into one. So, do you know if you are saving in to a workplace pension, how much you are saving or how much you need to save?

The ONS survey reveals 91% of eligible employees are now contributing to a pension but only 63% have realised they are doing so. If you a...

LAST WEEK - KEY TAKEAWAYS

BREXIT: DRAFT WITHDRAWAL DEAL TRIGGERS VOLATILITY IN UK ASSETS

• The UK and EU agreed a draft withdrawal deal on Tuesday, covering the financial settlement, residency rights and the Irish border;

• The UK cabinet approved the deal on Wednesday, but several ministers resigned in protest on Thursday;

• While the initial market reaction to the agreement was muted, the subsequent political turmoil prompted more pronounced market moves: UK government bonds rallied, sterling weakened against the US dollar and sh...

On Tuesday 13^th November, the UK and the EU agreed a draft Brexit withdrawal deal.

• The deal covers the terms under which the UK will leave the EU: the financial settlement, residency rights, a backstop to avoid a hard border in Northern Ireland and the transition period;
• It does not establish the future trading relationship between the two sides, but it includes a statement outlining a trade deal;
• The UK cabinet approved the deal following a lengthy meeting on Wednesday 14^th November;
• Mrs May must now bring the deal to parliament where...

LAST WEEK – KEY TAKEAWAYS

US: EQUITIES RALLY IN AFTERMATH OF MIDTERMS

• US equities rallied after the midterm elections, as the Democrats won control of the House of Representatives and the Republicans increased their majority in the Senate; 
• The Federal Reserve left interest rates unchanged following its meeting on Thursday but issued an optimistic outlook for the US economy, increasing the likelihood of a hike in December. 
• Omnis view: The midterm elections failed to spring any surprises, which US equities welcomed. However, the prospe...