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Trinity Financial have access to some great mortgage rates and we can secure our clients a five year fixed rate as low as 3.75%. The arrangement fee is cheaper than average at £699 and the lender will pay for the legal and valuation costs when you switch to them.  The APR is 4.1% and the reversion rate is 4%.

A number of lenders have raised the costs of their five year fixes, but there are still some fantastic mortgages available.

Call us on 020 7520 9427 to discuss the best mortgage we can secure for you.

January 4, 2011

The cost of renting a property has reached a record average per month, according to figures from LSL Property Services. LSL own estate agents Your Move and Reeds Rains and they say that rents have risen for the 10th consecutive month to an average of £692 per month.

The poor level of interest that the banks pay to savers has led to more demand for property and this is helping to drive the buy to let market.

Trinity Financial expect more lenders to offer buy to let mortgages next year as the banks look for more opportunities to lend to investors. Paragon recently resumed lending after a long break and Abbey have said that they are considering making a return next year.

The surge in rents is being driven by the lack of homes to rent and the lack of first time buyer mortgages. Unless first time buyers have a big deposit they are unlikely to be able to get on the property ladder and they will be forced in to renting.

Recent figures from the FSA show that just 2% of lending in quarter three of this year was to borrowers with a deposit of 10% or less.

Many investors see an opportunity to take advantage of the high rental yields and Capital Economics predict that 17% of household could be renting by 2015, against 14% today.

Not all parts of the country are reporting growth in rent according to the LSL report. The east of England and the east midlands reported falls of 3.1% and 2.4% in November, while rents dropped by 1.9% in the south east and by 0.6% in the north west.

The national gain was largely driven by rents rising by 1.8% in London, where they hit £992 per month – an increase of 9.2% in the last year.

Manchester is clearly seeing an increase in rental demand. Sally Ann Smith, from Philip James, a Manchester agent, was quoted in The Times saying that there was such demand for property that landlords are securing lets for February and beyond. She said: “Anyone buying a property now will secure tenants even before completion.”

Buy to let mortgages available through Trinity Financial

To access the lowest mortgages investors will need a 40% deposit. Arrangement fees range from £0 to 3.5% of the loan amount.

Some of the lowest rates that Trinity Financial have access to are from Birmingham Midshires. They offer a two year fixed rate at 4.35% and it has a 1.5% arrangement fee. The Principality have a low two year fix at 4.69% and it has a cheaper arrangement fee at £999.

We also have access to an exclusive two year tracker rate at 3.99% and it has a £1499 arrangement fee. Investors will need a 40% deposit to access these mortgages.

If you have a 25% deposit there are some excellent rates available. For example, Birmingham Midshires have a two year fixed rate at 4.80% and it has a 2.5% arrangement fee.

December 20, 2010

Investec Specialist Private Bank has a range of £1 million plus mortgages targeted at high net worth professionals who accrue irregular income such as lump sum bonuses.

They say that they will take the overall income and wealth in to consideration, rather than just the value of the property and their regular monthly income.

Investec’s £1 million plus mortgage range is aimed at the top end of the market and they will lend only to those with overall earnings in excess of £300,000 a year.

Aaron Strutt, a broker at Trinity Financial, says: “Over the last year we have really started to see banks coming in to the market targeting wealthy borrowers.

“There are a number of private banks that will even consider lending 100% loan to value on properties, providing they can see how the loan is going to be repaid. For the right type of client there are some very interesting options that are not available on the high street.”

January 2013

A number of banks have made changes to their interest only policies over the last few months and these new rules are now taking effect.

Figures from the Council of Mortgage Lender show that there were 46,000 loans advances for house purchases in October, down 4% on September and 16% lower than a year ago. However, there was some good news, the deposit needed by the average first time buyer shrunk to 20%, from 24% in September.

In October this year, 93% of first-time buyers took out a capital repayment mortgages, the highest proportions since records began in 1974.  Last week, the Royal Bank of Scotland and NatWest changed their first-time buyer lending policy; anyone buying their first property must take out a full capital repayment mortgage. The Skipton and Coventry Building Societies have also implemented this policy.

Platform Home Loans and The Co-operative Bank changed their policy this week and now borrowers wanting interest only must have a deposit of 25%.  A spokesman for Platform said that they were trying to bring themselves more in line with the Financial Services Authority’s review and that these changes could help to prevent greater regulatory intervention.

December 10, 2010

Godiva mortgages have made changes to their buy to let mortgage range and they now have a variable rate at 4.99%. They also have a two year fixed rate at 5.10%.

Both mortgages require investors to have a 40% deposit and they have the same arrangement fee at £1250. Godiva will pay the property valuation fee and the legal costs if you are remortgaging to them.

December 10, 2010

The Bank of England have once again voted to keep base rate at 0.5% for December.  The Bank’s Monetary Policy Committee have now kept interest rates on hold for 21 months.

A poll of economists in December by Reuters, estimated that the next base rate rise would be in October next year and that base rate would rise to 0.75% by the end of 2011.

The same poll a month earlier estimated that the rate would rise to 1% by the end of 2011. In April, the prediction was for base to be 2% by the end of 2011.

This illustrates how far estimates have changed and some economists do not expect a rise before 2012.

December 9, 2010

Trinity Financial has excellent relationships with many of the leading private banks and high net worth mortgage lenders. We have a wealth of experience in arranging finance for bankers and city traders.

Aaron Strutt, a broker at Trinity Financial, says: “We have contacts that specifically work with us to lend to wealthy bankers and city traders.  We understand that some borrowers receive their income from a variety of different sources and that contracts and bonus payments can often be more complex.

“We know how important to place our clients with the correct bank and we make getting a mortgage as simple as possible.”

To see how we can help you – or your client – to secure finance for a million pound plus property, call Trinity Financial on 020 7520 9427.

September 28, 2011

Housing minister Grant Shapps has said that he though that the Financial Services Authority’s Mortgage Market Review (MMR) paper is “a step too far.”

Speaking at the National House-Builder Council conference, Mr Shapps says that he would not be able to get a mortgage under the current proposals. He is quoted as saying: “I am absolutely clear about this. I think it was at the point when I realised that I wouldn’t have been able to get a mortgage if the MMR changes went through that I thought this might be a step too far.”

“There’s no point in closing the door after the horse has bolted. The problem with the mortgage market was not some pernickety issue with whether you get X or Y percentage or what form you get the end user to sign. It was because there was a lack of central regulation on the way the banks were operating and their ability to carry on operating even after they didn’t have the balance sheet to do it, as Northern Rock and Royal Bank of Scotland were doing. I hope the FSA will be getting that message.”

The FSA have issued consultation papers in an attempt to clean up the mortgage industry. They have caused a real stir in the market and many fear that the steps that they are suggesting will have a negative impact. Santander UK have said that they feel the FSA already have the power to clamp down on the market and that they do not think the review is necessary.

Mr Shapps’s comments are very welcome and it will be interesting to see how he will be working with the FSA to make his thoughts clear.

November 27, 2010

There are a number of great mortgage rates available. Trinity Financial have access to leading fixed and tracker rates. Two year fixes are as low as 2.75% if you have a 40% deposit. The arrangement fee is also low at £699.   Remortgage rates are available from 1.99%.

Many lenders are now offering competitive five year fixed rates and they are as low as 3.75%. The Woolwich have some particularly competitive longer term fixes starting at 3.99%. Please feel free to contact me to discuss the lowest mortgage I can secure for you.

November 26, 2010