The Leeway phase 2 Hull

Compendium Living launched their site The Leeway in Hull inviting us to attend and offer advice to their customers on everything related to purchasing their new home.

The first phase of the Leeway sold extremely well hence the development of The Leeway 2a with additional phases of 2b and 2c to follow in the future.

There are selections of carefully designed 2, 3 and 4 bedroomed homes which will continue to develop the east area of Hull and we are so proud to be part of it as their recommended Mortgage Advisers.

With good local schools, plenty of open space and excellent transport links

It has been a pleasure seeing you all this weekend and answering all of your questions.  If you would like any information on the development please feel free to get in touch with Rebecca on 01482 272 078

We would be more than happy to answer any questions relating to mortgages and Help to Buy should you consider looking at the development.  Call us on 0333 358 3822.

Plans to make it easier for mortgage borrowers to shop around have been proposed by the City regulator, after it found nearly one in three people fail to find the cheapest deal.

The Financial Conduct Authority (FCA) said these people could have saved £550 per year with a lower-priced deal. It is also exploring ways to help “mortgage prisoners” – longstanding customers who are trapped in their existing deal – to switch.

Publishing its interim report into the mortgage market, the FCA said it had found that competition was working well for many people. But it also identified ways in which the market could work better.

Mortgage costs hit two-year high as lenders anticipate rise in UK base rate

Mortgage debt accounts for more than 80% of total UK household liabilities, so selecting a deal is one of the most important financial decisions consumers have to take, but it can be a difficult one to get right, the FCA said.

The regulator said that while there was little evidence that current arrangements between firms were leading to poor consumer outcomes, there was no easy way for people to be confident at an early stage of the mortgage products they qualify for.

This is a significant impediment to shopping around, and about 30% of customers fail to find the cheapest mortgage for them, it said. On average, these consumers were paying approximately £550 per year more over the introductory period of their mortgage compared with the cheaper product.

As the interest-only mortgage crisis hits, here’s how you can avoid the heartache

One approach could involve lenders making the necessary eligibility and other qualification criteria available to other market participants consistently at an earlier stage, the FCA suggested. This should help brokers and also create other opportunities for new online tools, it said.

The FCA also proposed making it easier for people to compare mortgage brokers, saying it intended to work with the broker sector to develop ways to compare deals.

The report said: “We found that on average a consumer’s choice of intermediary makes a difference to the eventual cost of their mortgage. In particular, we have observed links between more expensive mortgages and intermediaries that typically place business with fewer lenders. But there are few tools to help consumers choose an intermediary.”

Christopher Woolard, the FCA’s executive director of strategy and competition, said: “For many the market is working well with high levels of consumer engagement. However, we believe that things could work better with more innovative tools to help consumers.

“There are also a number of longstanding borrowers that have kept up to date with their mortgage repayments but are unable to get a new mortgage deal; we want to explore ways that we, and the industry, can help them.”

The FCA also outlined how “mortgage prisoners” could be better helped, many of whom took out interest-only deals before the financial crisis. Stricter lending practices since the crisis have made it harder for these customers to find a cheaper mortgage.

The regulator suggested there could be an industry-wide agreement for lenders to approve applications for a new mortgage deal from existing customers whose most recent mortgage was taken out before the financial crisis and who are up to date with their payments.

The FCA will consult on the findings and proposed remedies, with a final report due around the end of the year.

Source : https://www.theguardian.com/money/2018/may/04/uk-mortgage-buyers-more-help-find-cheaper-deals-fca

We’re on hand this weekend at The Spires in Lincoln to answer any questions you may have around Mortgages and Help to Buy

If you are looking for a lively rural community located within minutes of one of England’s most lovely and progressive cities, then Branston, near Lincoln, is the place for you.

The Spires development is offering new homes in Branston,Lincolnshire – the southern part of the village has been carefully designed to reflect its historic core, which lies within a conservation area. Featured in the Domesday Book, Branston is still a thriving hub, with three excellent schools, a café, pub and shops, local golf club, and Branston Hall Hotel and Spa. And beyond the village, there is the rest of this magnificent county to explore: its unique countryside will captivate walkers, cyclists and riders; the wide skies and wonderful light effects will thrill photographers and painters; and there are miles of beautiful blue flag beaches to discover.

Branston lies only four miles to the south east of Lincoln, a city which has something for everyone with its history and heritage; its vibrant cultural quarter; its boutique shops and shopping centres; bars and restaurants; and of course its famous cathedral.

Each new home at The Spires development has been thoughtfully created with contemporary lifestyles in mind. Choose from two, three or four bedroom homes all of which are designed to be sympathetic to Branston’s unique village architecture. Quality is our watchword and each home is built to the highest standards. And, of course, the final touches that give a home that really personal feel are yours to choose from our Inspirations range (subject to build stage) so it feels like home as soon as you step over the threshold.

http://www.lovellnewhomes.co.uk/developments/eastern/the-spires/location

WE’RE HIRING We are looking to bring another Mortgage & Protection Advisor into the team here at Mortgage Pathways The successful party is to be Highly Self Motivated, Driven, and able to adhere to the 5* Service Standards we deliver to all of our clients. …

Experience in working with a Range of Lenders and New Build Mortgages is essential. Please e mail your CV to [email protected]

Chancellor Philip Hammond has abolished Stamp Duty for first time buyers up to homes worth £300,000 with immediate effect.

Delivering the Budget today he said this would be a “Stamp Duty cut for 95% of all first time buyers who pay Stamp Duty. And no Stamp Duty at all for 80% of the first time buyers from today”

According to HM Treasury as a result of these amendments in every region of England outside London, and in Wales and Northern Ireland, the average first time buyer property will pay no Stamp Duty. The Stamp duty bill of the average first time buyer in London will nearly halve, from £10500 to £5500.

Danielle Kennedy of Mortgage Pathways says “this is another step in the right direction, first time buyers find it hard enough to save a deposit never mind the additional costs such as Stamp Duty and legal fee’s etc. Removing this tax on home ownership will allow more aspiring families to own their own home”