1st Contact eNews » UK Mortgages

UK Mortgage and Property Market

admin — Wed, 05 Aug 2009 00:25:35 +0000

This month has seen more positive news emerging from the UK property market. Consensus across the market seems to suggest we’re at the bottom now. There’s no consensus, however, on how long the bottom will last but activity levels are still climbing on the high street. On an anecdotal level I’ve seen remortgage valuations (i.e. valuations of properties for the purpose of remortgage) come in between 10 to 15% above the well known national index values those same houses. From where I am sitting that’s a clear lead indicator that that indexes are lagging activity on the street and we will soon see new price levels reflected in the indexes.

Mortgage product pricing is still steep but we’ve seen the first few signs of a little pricing competition (albeit at the lower end of the LTV range). The pricing matrix shows very similar pricing to last month and no real change at the 85% – 95% range which is the one we’re all watching. Currently these mortgage rates are very real deterrents to first time buyers.

The good news is this month we’ve seen 2 new foreign banks enter the UK market. This should provide the much needed competitive stimulus that could hopefully be the beginning of a slow migration back to a healthy and competitive banking system.

Pricing Matrix as at 04/08/09

For more information please mail Sable Mortgages at mortgages@sablewealth.com

Encouraging Yet Sobering News on the UK Mortgage Market Front

admin — Thu, 02 Jul 2009 01:55:17 +0000

There’s much talk of green shoots in the UK housing market at the moment and to be fair most of it is true. The new buyer activity we’ve seen in the market since January is starting to stabilise prices and lenders are becoming a bit more confident. Evidence of this can be seen with two lenders currently offering 95% mortgages for first time buyers. While these deals are expensive and the criteria are tight, the fact that they exist is confirmation of lenders views on price levels. The overriding problem in the background remains the fact that the banking system is still overleveraged so we don’t expect to see big changes in loan to values or products for some time.

The news of the moment is that the wholesale market has seen interest rate swaps increase considerably over the past week. We’ve been expecting this for some time now so it’s not a big surprise but it does make the choice of mortgage products for the next few years even harder. With the spread between fixed and tracker being and largest for as long as I can remember this situation makes trackers look dangerously tempting. We always recommend you get advice when making this choice because the right choice is a very personal matter and depends on a list of personal financial variables.

For those of you interested in the details of pricing at the moment the market is offering the following at various LTV’s and Maturities:

Please feel free to contact Mike Abbott from Sable Property on 0776 544 0907 to discuss anything regarding your mortgage and related financial matters.

SA Property Market Boosted by Expats

admin — Wed, 01 Apr 2009 00:53:19 +0000

According to an article published in Fin 24 the South African housing market has seen a revival largely from a surge of interest from South African expats living abroad. Coupled with a weaker Rand, 1st Contact explains the benefits of managing off shored property investments optimally.

According to Ernst van Rensburg, expert Forex Consultant and manager “it is crucial to partner up with an established money transfer partner in order to generate more Rands for your Pounds as well as to keep your transfer fees down to a minimum. We believe that this will help individuals to safeguard, as far as possible, against the remnants and risks associated with an unpredictable economic climate”

1st Contact Forex offers the following advisory tips to individuals who are either maintaining or investing in off shored property:

1. Set up a monthly standing order with 1st Contact Forex so that your repayments can move out of your account automatically, whilst being rest assured that you will continuously be getting the best rate possible.

2. An important element to making a successful property investment abroad is having the flexibility to respond rapidly to profitable opportunities that may arise. 1st Contact offer a standard settlement service, taking 2-3 days as well as a speed service taking up to 1 day. Most banks have been known to take round about a week to settle. An increased settlement period, often spurred by time delays from the bank can result in individuals loosing out on purchasing their dream homes or property investments.

3. Subscribe to 1st Contact’s currency rate notifier for regular currency alerts, enabling you to time your property investments optimally. Since earning Pounds does put individuals in a favorable position, keeping abreast of currency changes proactively is set to give you an edge when engaging in the international property market.

4. Convenience is key to making your monthly repayments. 1st Contact offer the most transparent service in the industry, allowing individuals to conduct a transfer over the internet using their debit cards, where the actual rate presented is the rate that will be guaranteed, with no hidden costs or surprises.

For more information or to seek advice from one of our expert consultants visit 1st Contact Forex.

Sabre Wealth Management

admin — Wed, 04 Feb 2009 06:33:35 +0000

Looking at making the big move back? There are a few things you should be thinking about when planning your move back to South Africa. Sorting out your personal taxes, offshore funds, banks accounts and medical aid are a few of the critical things to have in place prior to leaving.

Sabre Wealth is ideally situated to assist you with your local financial needs, as well as, any tax advice. Our services range from retirement planning and investment advice through to medical schemes and insurance needs.

Sabre Wealth Management is the Financial Services arm of 1st Contact in South Africa. For a free consultation please contact us on (27) 021 657 2156 or info@sabrewealth.com

For Wealth Management services, contact Sabre Wealth.

1st Contact eNews » UK Mortgages

UK Mortgage and Property Market

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