Monthly Archives: February 2015

Mortgage Lending at its Highest Level Since 2007


The latest official figures show that the recovery in the UK’s large
mortgage market is alive and well and continued into the third quarter
of 2013. The most recent data from the Council of Mortgage Lenders (CML)
showed that 27.1 billion of house purchase loans were advanced between
July and September, the highest quarterly figure since the end of 2007.


Lending to first time buyers is up by a third year-on-year while buy to
let lending is up 36 per cent. We look at the latest figures that show
the high value mortgage market in the UK is recovering strongly.

First time buyers driving the large mortgage market


Despite a small drop in lending in September, the UK’s large mortgage
sector has grown strongly in the past year according to CML
figures.Lending to first-time buyers was up 34 per cent in September
2013 compared to September 2012 while buy to let lending was 36 per cent
higher in the third quarter of 2013 than in the same period last year.


Paul Smee, director general of the CML, said that the typical seasonal
fall in lending in September was expected but the market is seeing
appreciable year-on-year and quarterly lending rises that suggest the
market is continuing its recovery.

He said that first-time
buyers were a key driver in the first half of 2013 but now home movers
and remortgages are showing renewed strength which puts the market in a
good position to continue momentum into the final few months of 2013 and
the new year.

In the third quarter of 2013, 74,800 loans were
advanced to first-time buyers witha value of 10.4billion.The typical
first-time buyer income multiple continued an upward trend with
first-time buyers typically borrowing 3.39 times their gross income.


And, high value mortgage customers are increasingly choosing fixed rate
deals. Jeremy Duncombe, director, Legal & General Mortgage Club,
said that 2013 had seen a revival in fixed rate products. 86 per cent of
all house purchases and re-mortgages in August were taken out with a
fixed rate mortgage deal. This is compared to 67 per cent for August
2012 and 77 per cent at the peak of the housing boom in August 2007.


He pointed out that the popularity of fixed products is in part due to
the historically low rates currently available.The average rate in
August 2013 was 3.31per cent, compared to 4.25 per cent and 5.86 per
cent for the same periods in 2012 and 2007 respectively.

Buy to let lending also booming


The CML figures showed that 1.9 billion of buy to let loans were
advanced in September, unchanged from August. Overall, buy-to-let
lending in the third quarter of 2013 grew with 43,900 loans advanced in
this quarter which was up 16 per cent on the second quarter and up 36
per centon the same period last year.

Both buy to let purchase
and remortgage lending has increased in recent months, suggesting that
landlords are keen to withdraw equity from their properties in order to
reinvest.

Islay Robinson, CEO of London mortgage adviser Enness
Private Clients, said “There are some excellent buy to let deals
available in the market and so many clients are taking advantage of
these low rates. Whether it’s simply to reduce their borrowing costs or
to withdraw capital to expand their portfolios, there are plenty of
great large mortgagedeals available”.

Advantages of Debt Counselling Advice

The deluge of heavy debts is a disturbing issue and needs some
foolproof solution to get out of it. Looking for a debt counselling
advice at such hard times is the only option left to the bill or and the
step towards it should be immediate. The debt counseling professionals
offer their services to help out at the times of severe bill conditions.

There are several benefits of arrear counselling offered by the professionals. Some of them are:


The debt counseling professionals try to merge all the bills into a
single loan plan. This is a great advantage that reduces a stress of a
arrearsor and create a bunch of loans into one to repay it for a longer
time.

Just a single payment in a month’s time has been the
requirement of the arrears counseling companies and they look after the
needs of your creditors, every month and pay to them on the behalf of
the debtors.

They are professionals in the field of arrears
counseling and are well-versed with the credit market scenario. They
know the guidelines through which they can convince the creditors to
reduce the rate of interest of the loans.

The professionals who hold higher experience in the field may also help you in reducing the amount of your loan.


One of the very important aspects of counseling advice is that a billor
gets free from the inconveniences caused by answering the creditors
often. Counselors look into the situation and offer a sigh of a relief
to the billor from answering the creditors.


Debt counseling companies offer the repayment facility of the arrears
for a longer time and it helps to split the debts into longer periods
and hence, the amount of the repayment that has to be done every month
gets reduced.

They are the best guides to help you to get clear out of the debts and offer better solutions than filing for bankruptcy.


There are several companies offering their services in counseling and
charge a certain amount for their services. It is the duty of a debtor
to learn about their charges before hiring them. Ultimately, they are
the people who will offer suggestions to help the debtor to get free
from the unnecessary burden of account. The debtor must have enough
money to pay to these companies for acquiring efficient debt settlement
measures.

The reliability and experience of any debt settlement
company count and hiring any account advisor without complete research
may land a debtor into a wrong place. A account counseling company that
saves you from the situation of getting bankrupt is the company any
debtor actually needs.

There are many debt counseling companies
offering their advice on UK debt solutions. The lack of debt management
can be the reason in certain cases for a person to become a victim of
heavy accounts. Any good UK debt solution provider will offer the best
debt management advice along with the credit card account management UK
to protect you from the state of getting bankrupt.

There are
many debt relief options and a debtor must not delay to consider the
help of debt relief companies for the quickest solution.

Professional Financial Services Can Help Take Your Business on a New Level

All of the persons are well known of the fact that, in the life of
all, there are ups and downs in the life of everybody. The professional
financial services are helping the clients who come to take the help
from the service. The service personnel are so much helpful that they
take the responsibility of making improved the financial sections of the
clients so that the next period of time of the clients will go smoothly
or the period of misfortune to be overcome. The experts suggest and
look after all the data of the clients that are well discussed by them
and after discussing all, they will suggest all the relevant matters so
that the client will be beneficial in the field of financial sections.
the experts look into the personal loans taken if any, tax and return of
tax, any legal agreement done to any and likewise they suggests the
best fit insurance of any life plan that will be able to make cash flow
insistently. Sometimes, they suggest some loans from the believable
source so that the term payment of the loan will be minimum amount and
thus the client will get the maximum benefit from lower interest.

The professional financial services are experts, who
listen to the urge of the clients. They prefer the plans and decisions
of the clients and at the meantime; they suggest the maximum benefit
plans for the clients so that the client might be secure for life or at
least till the injured period of time. After taking all the information
of the background of the person came to the experts, they suggest the
best family or personal beneficial plans in the economical background.
In all the time, the aim of the experts to take care of the permanent
cash flow that will be helpful for the current situations.

These
service experts are not directly related to any of the insurance
corporation and any loan providing associations. The professional
financial services just suggest all relevant matter that can improve the
current situations of the clients. Sometimes, they suggest for jobs
that are relevant to the clients and take care of the matter that the
job might be secure. In time of retirement, they also take care of
securing the retirement benefits and permanent cash flow till the life’s
end. They also acquire belief from the clients by taking no charge in
time of verifications and providing information, they only charges when
the clients are well in financial field.

How Much Deposit Do I Need Get help from Mortgage Brokers


Perhaps the biggest challenge facing potential homebuyers is the issue
of how much deposit is required to attain a home loan. There are many
misconceptions about how much deposit is actually required, and good
Perth mortgage brokers can offer invaluable advice and guidance when it
comes to a buyer’s options with regards to this.


The deposit is one of the most important factors which will determine
the success or failure of a home loan application. The amount of deposit
that a buyer can put down will impact upon future repayments, amount to
be borrowed, and the amount of interest which will be payable over the
term of the loan. It will also have a significant impact upon whether
loan approval is likely.

Mortgage lenders and banks will have
differing criteria governing what monies can be used as a deposit; the
more money saved for a deposit, the more likely it is that a mortgage
broker will be successful in negotiating the waiving of certain fees,
and a lower interest rate on the loan.

As a general rule of
thumb, most banks will require a minimum of five percent of the purchase
price as deposit, and this must be in what is referred to as “genuine
savings”. This is actual money which one has had in a bank account for a
period longer than three months, at minimum. This money is used to
demonstrate a pattern of savings behaviour.


It is always advisable to have as much money for a deposit as possible
(and one must not forget that fees such as stamp duty and legal fees
must also be covered over and above the purchase price of the property).
The greater deposit paid, the sooner a home loan will be paid off. More
equity in the home will be available. Some lenders will even offer a
discounted rate for interest when a large deposit is offered.


Persons who are self employed or who have income which is erratic can
have a more difficult time gaining a home loan. If one in this situation
seeks to borrow more than eighty percent o the value of a property,
Lender’s Mortgage Insurance may be necessary in order to be approved for
a home loan. This insurance, payable by the borrower, protects the
lender in the event that a borrower cannot make repayments and the
property does not sell for a price that will cover the loan.

One
should always aim to have as much deposit as possible when buying a
property – yet in reality, and with the current economy and the expense
of daily modern life, this can be very difficult to attain. This is why
it is so highly recommended to enlist the services of superior Perth
mortgage brokers. These professionals can help a buyer traverse the
minefield of loan products and find the perfect loan for each
individual’s circumstances.

Debt Management Leads – Need of The Hour Seek The Help of a Pro!

One inevitable factor is the changing market scenario. This means,
one should be prepared to ride the financial rollercoaster, not to miss
the rising inflation. The increasing inflation coupled with higher debts
leads to a financial crisis, one that many people in the UK face. Based
on statistical report from 2010, nearly 58% of the people in UK who are
in dire need to minimise or close their debts, turn to their friends or
relatives for help. However, today more and more people are seeking
professional help thereby leading to a rise in debt management companies
across the country. Two years ago, Mintel estimated the total number of
debt management plans to be somewhere around 600,000 with around 9
billion funds under management. This clearly states that market is
growing rapidly bringing us face to face with yet another challenge;
albeit a different one.

As mentioned above, many people still resort to
informal sources for help. Convincing the lot to turn to a Debt
Management Company for alleviating the crisis is the challenge. Mass or
bulk mailers will not help. So what will? ‘Qualified ‘debt management
leads’ is the answer! PPI reclaim leads or debt management leads that
have been verified and screened will help debt control companies reach
their prospects with more ease and efficiency. On the other hand, people
who are willing to seek professional advice will have help knocking at
their door instead of the other way round. This connection is best
established by a professional PPI reclaim leads provider.


Typically, debt management leads are generated involving tried and
tested multi-tier process that ensures a high conversion rate. Let us
take for example PPI reclaim leads. Data are collected with the help of
surveys conducted by a team of trained executives who pose some basic
question that qualify the lead.


“Do you have a minimum loan amount of 5000 taken in the last 6 years on
which you have payment protection insurance? If answer is Yes;”Do you
wish to be contacted by a debt control company?

If the answer to
both the questions is YES, they further collect the lead’s personal
information like name, address & telephone Number. The leads are
further audited for quality in terms of accuracy and completeness of
data. Some providers also include bespoke questions like “Do you possess
unsecured debts in the range of 5,000 and 15,000 liable to 2 or more
companies and are seeking professional help?” This helps to focus on a
specific target group. For more information on home insurance renewal
data or PPI reclaim leads please visit http://www.silverbirdmarketing.com.

Jobs in Financial Services

The
financial services industry offers a wide range of job opportunities
and career paths for potential candidates. Deciding which line of work
is best for you depends greatly on your interests and qualifications,
and an understanding of what these jobs entail. In this article we take
on overview of a number of roles in the financial services industry with
the aim of aiding your career or training decision.

What is an Actuary?

The
job if an actuary is to gather and analyse statistics, using them to
evaluate financial risk accordingly. To be an actuary requires great
attention to detail, a head for numbers, and the ability to communicate
clearly. Actuaries will acquire a very thorough understanding of
financial systems, using them to solve problems and advise on risk. An
actuarial career may take you to a variety of industries, and can be
very rewarding both personally and financially.

What Is a Financial Advisor?

A
financial advisor may be employed by different types of companies.
Those such as banks are called ‘tied advisors’, meaning they can only
advise on products offered by that institution. ‘Multi-tied advisors’
can offer products from a small range of providers. Independent
financial advisors have access to all or most of the products available
on the market. Mortgage advisors work in the same way. As a financial
advisor you will offer clients advice on the best way to look after
their money such as when they come to make decisions on mortgages,
pensions, investments and savings.

What is an Investment Manager?

Investment
managers (otherwise known as fund managers) offer professional
management services of various types of investment such as stocks,
shares and bonds. They will make decisions which will often then have to
be passed by the client relating to what actions should be taken to get
the best return and to best protect the investments in their care. To
be a find manager you will need an in depth knowledge of the various
areas of finance these assets belong to, good analytical and
communications skills. You will receive information from a number of
departments which you must work through to decide the best course of
action for your client.

What is a Tax Inspector?

As a tax
inspector you will be required to ensure companies and individuals pay
the right amount of tax for their earnings. You will investigate those
suspected of trying to evade their tax responsibilities, as well as
advise businesses and individuals on tax related subjects. You will need
an analytical mind, good numerical and communication skills, and
possibly a good degree of patience.

These are just a small number
of career opportunities available in the financial services industry,
there are literally hundreds of other positions available in this
interesting field, including bankers, chartered accountants investment
analysts, and many more.

More Choice of Mortgage Deals for High Deposit Borrowers

Over the last six years the number of deals available to high value
mortgage clients has been decreasing. As lenders have fallen by the
wayside and those that remain have become more reluctant to lend, the
choice of large mortgage deals has fallen sharply.

However, new research has found one area of the
residential property sector which has benefited over the last six years:
those buyers who are seeking a large mortgage and have a large deposit.
Typically these buyers will be high net worth clients looking to borrow
less than 60 per cent of their home’s value. The number of deals
available to these clients has increased significantly during this time
as lenders compete for such low-risk business. Here, we look at the one
area of the mortgage market that is seeing strong competition, in
contrast to the major part of the market in the UK.

Research
from financial analysts Moneyfacts has discovered that the number of
mortgage products in the 60 per cent ‘loan to value’ bracket has
rocketed since 2007. There are now approaching 500 deals available for
people with a 40 per cent deposit, compared to just 21 in October 2007.


Sylvia Waycot, of Moneyfacts.co.uk, said that in 2007 lenders offered
high loan to values as a norm. High income multiples and sub-prime were
not automatically rejected. This all changed in 2008 with the onset of
the banking crisis. High loan to values quickly disappeared and even
today are few and far between. They were predominately replaced with the
60 per cent loan to value which is virtually risk-less to any lender
and as a result, the first-time buyer market has stagnated.

At
times price wars have broken out between lenders keen to secure high
deposit mortgage business. Banks in the UK such as HSBC have even
offered five year fixed rate mortgages at under 3 per cent.


Hugh Wade-Jones, director of London mortgage adviser Enness Private
Clients, said that while mortgage deals for first time buyers and for
those seeking higher loan to values are hard to come by, there are
plenty of deals if you are a large mortgage borrower looking for under
60 per cent ‘loan to value’. The low risk nature of this type of
borrowing has led many lenders to offer superb rates in order to attract
good quality large mortgage business.

As well as the mortgage
deals reported by MoneyFacts there are countless more products available
through private banks in the UK and overseas. High value mortgage
clients who need over 500,000 at a low “loan to value” have a superb
choice of deals right now.

The Government’s Funding for Lending
scheme has been a contributing factor to the increased choice of deals.
There were 87 new products at 60 per cent loan to value in the first few
months of the schemes introduction. However, some experts believe the
government initiative is not targeting the right type of borrower as it
was designed to help first time buyers without a large deposit. Yet the
number of new deals available for those with only a 10 per cent deposit
remains limited. It has simply improved the choice of deals for those
seeking a large mortgage, who already had a good range of choices
anyway. Only time will tell if the government’s new Help To Buy scheme
will redress this imbalance.