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Abbey for Intermediaries has launched two fantastically low mortgage rates and they will only be available for 7 days! They start at 1.99% and you will be able to access them if you are buying a property, or looking to remortgage. 

The lowest rate is a two-year tracker at 1.99% and you can access it if you have a 30% deposit. For those wanting the security of a fixed rate Abbey also offer a very competitively priced two-year fix at 2.89% and it requires a 25% deposit. Both mortgages have a maximum loan size of £1 million and low arrangement fees at £995. The lender will also pay for the property valuation and legals if you remortgage to them.  They have a free property valuation and £250 cash back on a purchase too.

If you are sitting on your lenders standard variable rate and it is above 2.5%, we could save you a considerable amount of money.

Trinity Financial also has access to Nationwide’s new five-year fixed rate at 3.89%. It is available if you have a 30% deposit and the arrangment fee is £999. 

June 30, 2011

Royal Bank of Scotland and the Nationwide Building Society ask borrowers to put down half of the property value to qualify for their cheapest mortgages, but best buy rates are now more accessible and they continue to get lower.

Northern Rock reduced their market leading two-year fixes and they are now available from 2.89% for borrowers with a 30% deposit. The arrangement fee is also lower at £995.   Abbey for Intermediaries has also launched a three-year fixed rate at 4.49% and it has a £495 arrangement fee – borrowers will need a 15% deposit and the maximum loan size is £550k.  The Abbey mortgage also has a free property valuation and £250 cash back if you are buying a home.

Aaron Strutt, a broker at Trinity Financial, says: “Short-term fixed rates are now more attractive and they are much lower than many standard variable rates. The Clydesdale Bank has a two-year fix at 2.88% and it is available up to £2 million, if you have a 35% deposit. The arrangement fee is £1499.

“Certain lenders are chipping away and making their mortgages cheaper. They are also lowering the size of the deposit required.  When it seems that they can’t get any lower, we see further incentives to grab a cheap rate.”

June 24, 2011

A number of lenders have introduced loyalty mortgages designed to offer more attractive rates to customers if the switch their current account as part of the deal. Santander, Woolwich and The Co-operative Bank all offer discounts to their banking customers.

To qualify for a loyalty mortgage, you generally have to open a current account and it must have been open for a few months before you can apply. Trinity Financial can access Barclays new two-year fixed rate at 2.69% if you have a 30% deposit – although you must have paid at least £800 in to a Barclays current account for the last three-months.

Last week Halifax made changes to their current account mortgages and they now offer a £150 discount if you switch your banking to them, this used to be 0.2% off of the interest rate.

June 24, 2011

According to the latest figures from HM Revenue & Customs, May saw 68,000 properties sold over £40,000 across the UK.

The number of property sales has been slowing since 2007, although there was a slight increase last year. However, figures for 2011 show that 68,000 properties were sold last month, compared to 71,000 in May last year. Four years ago the figure was substantially higher at 140,000.

These figures are very different from Rightmove’s House Price Index, released earlier this week. They say that seller’s asking prices rose for the sixth consecutive month.

Henry Pryor, a housing pundit, is quoted as saying: “Last year there were 884,000 home sold across the UK and this compares with over 1.66 million in 2006 – this year we could see fewer than 800,000 homes change hands.

“Average sales recorded by Land Registry and by lenders like Halifax are a record £75,000 lower than the average asking price reported by Rightmove. The value of your house is based on what other homes sell for, not how much their optimistic owners were asking for.”

June 24, 2011

The Bank of England’s rate-setting committee has once again voted to keep rates on hold at 0.5% and this is the 27^th consecutive month without change.

Minutes from its June meeting showed that former Goldman Sachs economist Ben Broadbent voted with the majority of the Monetary Policy Committee (MPC). His predecessor Andrew Sentance had consistently called for a 0.5% rate rise. Many homeowners will be pleased he has taken this initial stance.

Other members’ votes were unchanged, giving a seven-to-two majority.

Vicky Redwood of Capital Economics told The Guardian website: “The Minutes of June’s MPC meeting suggest that a near-term rate rise is still very unlikely, and that, if anything, more members are starting to contemplate giving the economy more support.

“The fact that new member Ben Broadbent voted with the majority to leave interest rates on hold is a bit of a relief, given that he had sounded a bit hawkish in his testimony to the Treasury committee. The odds of rates rising any time soon therefore look slim, and we still think that QE2 is likely next year if the recovery remains as weak as we expect.”

June 23, 2011

Trinity Financial knows how important it is to offer a quick and efficient service to our clients and we were able to help one borrower in a hurry. We secured a re-mortgage offer in three days.

A number of the banks now have swift online systems and they enable us to get information to them efficiently.

Abbey for Intermediaries is one bank that we like working with. They currently offer market leading rates and other lenders are finding it hard to compete with them.

June 17, 2011

The average rent in England and Wales increased by 1.5% in May to reach £696, according to the latest Buy-To-Let Index from LSL Property Services.

The data shows rent reached a record high in May after four consecutive monthly increases, and rose by 4.4% compared to May 2010.  The average yield also remained at a record high of 5.1% in May.

Between April and May, rents increased fastest in the East of England and the North East, rising by 1.4% and 1.1% respectively.  Rents fell in just three regions: the West Midlands, by 0.7%, the South West, by 0.6%, and Wales, by 0.2%.

Tennant arrears decreased in May, with 11.5% of all UK rent unpaid or late by the end of the month, compared to 11.8% the previous month, but well above the average 10.6% for 2010.

June 17, 2011

Paragon, the buy-to-let mortgage specialist, is urging property investors to ensure that they are fully tax efficient after their research reveled that many are failing to claim for the full range of tax allowances.

The lender says that landlords can offset a lot of the costs incurred through letting a property against their income, but many are unaware of the full range of costs they can claim for.

They have produced a Buy-to-let Tax Guide and it can be view by clicking on the link below.

http://www.paragon-mortgages.co.uk/Files/PML/Literature/PMLtaxguide.pdf

June 17, 2011

23 June 2011 | By Aaron Strutt – Communications Manager at Trinity Financial Group.

Halifax, Accord Mortgages and Yorkshire and Coventry building societies all offer 100%-plus loan to value mortgages to existing customers. Rates are reasonably competitive but some have a big fee.

Halifax offer some of the most generous rates to borrowers if they are in negative equity and this is to a maximum of 120% LTV – the rate is fixed for two-years at 4.74% and the arrangement fee is £999. Chelsea has a 100%-plus LTV two-year fix at 5.69% with no fee. This is also 0.10% lower than their standard variable rate (SVR) at 5.79%.

Cheltenham & Gloucester will stretch to 95% LTV and this is available for existing customers with mortgages up to a rather large £7.5m. Birmingham Midshires has a three-year fix at 5.59% up to 95% LTV with a 1% arrangement fee.

Godiva Mortgages offers existing buy-to-let customers 100% LTV two-year fixes at 5.50% with no arrangement fees. Many residential rates for new customers are higher.

Some lenders seem happy helping existing clients and they generally offer fixes rather than trackers. Nationwide doesn’t offer clients with less than 5% equity the chance to switch. But its base mortgage rate is so good borrowers won’t worry until the base rate rises.

If I was in negative equity I would be pleased my lender was offering me the chance to come off of its SVR and for some it does make sense to switch.

June 23, 2011

Abbey for Intermediaries has launched two fantastically low mortgage rates - starting from 1.99% - and they are available to borrowers either buying a property, or looking to remortgage.

The mortgages will only be available for another two days. The lowest rate is a two-year tracker at 1.99% and you can access it if you have a 30%deposit. For those wanting the security of a fixed rate Abbey also offer a very competitively priced two-year fix at 2.89% and it requires a 25% deposit. Both mortgages have a maximum loan size of £1 million and low arrangement fees at £995. The lender will also pay for the property valuation and legals if you remortgage to them.

If you are sitting on your lenders standard variable rate and it is above 2.5% then Trinity Financial could save you a considerable amount of money.

June 14, 2011

The number of mortgage products available to first-time buyers has increased by 32% in the year, research by Moneyfacts.co.uk shows.

Today there are 183 mortgage deals aimed at first-time buyers compared to 139 in June 2010. The data also reveals that the average mortgage rate for a first-time buyer is currently 5.22%, compared to 5.24% six months ago and 5.37% a year ago.

The Coventry Building Society has launched a five-year fixed rate and it is targeting first-time buyers with a 10% deposit. It has a low booking fee at £199 and it also has a free property valuation. Even though the rate is fixed there are no early repayment charges. This allows borrowers to repay the mortgage early or switch in to a lower rate, if one is available.

The Skipton Building Society currently has one of the lowest two-year fixes if you have a 10% deposit at 5.49% and you are tied in for until the 30/06/2013.

June 10, 2011

Trinity Financial is now two-years old and over the last year the company has continued to grow. Trinity has great relationships with many high-street lenders and private banks. We also work with a number of leading estate agents. We would like to thank our clients and business partners for your continued support.

June 10, 2010

The Bank of England Monetary Policy Committee has once again kept interest rates on hold at 0.5% and the last change was in March 2009.

The European Central Bank has also kept interest rates at 1.25% for its 17 member states.

June 9, 2011

The Council of Mortgage Lenders has increased its gross mortgage lending forecast for 2011 from £135bn to £140bn.  It is also predicting gross mortgage lending of £150bn in 2012.

It says that it seems probable that the Bank of England base rate will not rise this year and that it will remain unchanged at this current level of 0.5% for most of 2011 – before modest progressive tightening that continues through 2012.

In its News & Views section, it says: “Housing transactions have, of course, fallen sharply since the credit crunch, averaging less than 900,000 annually over the past three years. Cash-financed sales have been more resilient over this period and have therefore increased as a proportion to about a third of property sales.

“Assuming that this continues to be the case, overall activity is likely to be at broadly similar levels this year and next.”

The bank of England base rate has been held at the same mark since March 2009 and economists are not predicting a change this year.

Andrew Goodwin, senior economic advisor to the Ernst & Young Item Club forecasting group, told Times Online that: “There are some major question marks emerging over the state of the recovery. It is difficult to see the MPC feeling certain enough about future prospects to contemplate a rise in rates any time soon.”

June 3, 2011

The number of discounted variable rates, which are linked to the lender’s standard variable rate (SVR) and can be increased at its discretion, has almost doubled in the last year. Figures from Moneyfacts show that there are now over 300 variable rates available.

Mortgage lenders like to offer discounted variable rates because they have more control over the amount that their customers pay. Over the last two-years there have been very few standard variable rate increases and this has led to lenders offering some ultra low discounted mortgages. Godiva Mortgages offer a two-year Flexx rate at 1.99% with a 1% discount from the SVR until June 2013. The arrangement fee is 1.99% of the loan amount and is capped at £1999. Borrowers will require a 40% deposit.

Trinity Financial can access The Hanley’s discounted rate at 3.09% and it has a 2.10% discount from the SVR for the term of the mortgage. The arrangement fee is low at £495 and borrowers require a 20% deposit. There are no early repayment charges and they offer £250 cash-back for house purchases.

A number of lenders have continued to lower their mortgages this week and the Nationwide Building Society reduced some of their fixed rates by 0.5%.  Barclays has made their deals more competitive for the fourth time in six weeks and they now offer some great tracker rates. The lowest is a term-tracker at 2.47% and the arrangement fee is £999. You will require a 30% deposit to access the mortgage and the maximum loan is £1 million.

June 3, 2011

Up to 300,000 home owners switched their mortgages to interest-only from capital repayment to lower their monthly payments, figures from the Financial Services Authority (FSA) reveal.

The FSA’s data shows that since the financial crisis started in late 2007 borrowers have switched more than £60 billion of mortgages on capital repayment loans to interest-only.

Lenders generally allow their customers to switch if they pay an administration charge, providing that they have at least 25% equity in the property.

Banks and building societies have tightened up considerably on their lending criteria and there are very few lenders keen to lend over 75% loan to value on interest-only. Lloyds Banking Group now require borrowers to prove that they have a repayment plan in place before they offer an interest-only mortgage.

June 3, 2011

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