LYNDHURST FINANCIAL MANAGEMENT BLOG

More borrowers are seeking out advice from mortgage intermediaries for the first time, says research by Kensington.

A survey of 617 mortgage intermediaries has found that nearly one in five (18%) say over half of the clients they have seen in the past three months were talking to a mortgage adviser for the first time.

In addition, over a third of intermediaries (34%) say that between a quarter and a half of their clients in the last quarter had never been to a mortgage broker before.

Charles Morley, head of sales at Kensington, said: “It is incredibly encouraging that so many intermediaries are seeing such a large proportion of clients who have never sought the help of an adviser before.

“This shows that more borrowers are recognising the benefits of professional advice, both in terms of helping them to make the right decision, but also in accessing lenders that are able to offer intelligent lending, rather than a one-size-fits-all tick box approach.

“I would recommend that intermediaries take this information on board and use it to go out and promote their services to new customers.

“There is clearly a previously untapped appetite for mortgage advice out there and this could fuel business growth, which looks very much like a flat market in the coming months.”

(Source=”Introducer Today” 25/08/11)

NatWest Intermediary Solutions has launched three new mortgages to its corporate range and become the latest to make rate reductions.

The three new products are a two-year fixed rate purchase and remortgage, 75% LTV, with an initial rate of 3.39% and no fee; a two year fixed rate remortgage, 85% LTV, with an initial rate of 4.49% and no fee; and a two-year tracker purchase and remortgage, 85% LTV, with an initial fee of £999.

Rates on its mortgages have been cut by up to 0.6%.

Mark Bullard, head of sales at NatWest Intermediary Solutions said: “The introduction of the three new products in the mid-LTV range complements the rate changes we have made to the rest of the mortgages in our core and corporate ranges in the high and low LTV categories.

“This offers intermediaries an attractive choice of keenly priced mortgages.”

“The Great Escape” re-mortgage package offers clients:

• Great Lifetime Tracker rate of base + 2.18%- (current pay rate @ 2.68%) 70% LTV
• The product has no application fee.
• Free legal’s and valuation.
• £300 cash back towards the exit fee’s you may face with their existing lender

This product also comes with the benefit of their “Switch and Fix” option, which allows the client to switch to a Woolwich fixed rate without incurring an ERC (subject to conditions).

For further details call us now on 01582 715777 or email admin@lyndhurstfm.co.uk.

BoE split on interest rate decision

23 June 2010

A member of the Bank of England’s Monetary Policy Committee last night voted for rates to rise to 0.75% from 0.5%, MPC minutes reveal.

The Governor invited the Committee to vote on the proposition that:

- The Bank Rate should be maintained at 0.5%.

- The Bank of England should maintain the stock of asset purchases financed by the issuance
of central bank reserves at £200 billion.

Seven members of the Committee (the Governor, Charles Bean, Paul Tucker, Spencer Dale, Paul Fisher, David Miles and Adam Posen) voted in favour of the proposition.

Andrew Sentance voted against, preferring an increase in Bank Rate of 25 basis points.

The 7-to-1 majority means rates are kept at 0.5% for the 15th consecutive month.