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The article discusses the significant rise of mortgage brokers in Australia's property market, with brokers now responsible for nearly three-quarters of new home loans. The emergence of mortgage brokers has provided consumers with more choice and tailored solutions compared to traditional banks. The article also highlights the challenges faced by banks in maintaining profitability and market share in the face of competition from brokers. Additionally, it explores the impact of regulatory reforms, such as the best interests duty, on the mortgage broking industry. [Extracted from the article]

This article provides 12 steps to finding the perfect renovation project for your dream home. It emphasizes the importance of location, seeking out opportunities, not over-investing, financing the project, looking for a property with good bones, building relationships with professionals, checking for restrictions, determining your goals, being prepared for hidden costs, not taking on more than you can handle, creating a dream team of consultants and contractors, and being prepared for the all-consuming nature of the project. The article includes personal anecdotes and advice from individuals who have completed successful renovations. [Extracted from the article]

The article "GUIDE TO RENOVATING" from Homebuilding & Renovating discusses the unique buying process and financing options for renovation projects, particularly those sold at auction or through sealed bids. It highlights the importance of research, property surveys, legal considerations, and financial planning when engaging in renovation projects. The article also provides insights into various financing options such as self-build mortgages, renovation mortgages, further advances, remortgaging, and bridging finance. Readers are advised to carefully assess their financial situation and seek specialist mortgage lenders for renovation projects. [Extracted from the article]

The article discusses changes to stamp duty in 2025, explaining that the nil rate threshold for first-time buyers will increase, while the threshold for other buyers will decrease. The average tax bill is expected to rise by £2,500, prompting a rush of activity in the housing market before the deadline on 31 March. To speed up the homebuying process and beat the deadline, buyers are advised to organize their paperwork, find an efficient conveyancer, book surveys and valuations early, and ensure their deposit is ready. [Extracted from the article]

The article "Mortgages for the self-employed: An expert guide" by Gemma Bennett provides valuable insights for self-employed individuals seeking mortgages. Drawing from her personal experience as a self-employed borrower and mortgage broker, Bennett offers advice on navigating the mortgage process. She emphasizes the importance of preparing in advance, staying on top of tax returns, and helping lenders understand your business to secure a mortgage. Bennett also recommends working with a qualified accountant and a mortgage adviser to find the most suitable mortgage options. [Extracted from the article]

The article discusses the possibility of obtaining a mortgage for a property purchased at an auction, particularly for first-time buyers. It emphasizes the importance of viewing the property, ensuring it is habitable, and securing a mortgage offer quickly. The author advises potential buyers to work with a mortgage broker specializing in auction properties to navigate the process effectively. Overall, auctions can offer affordable options for first-time buyers, but caution and thorough research are necessary before making a bid. [Extracted from the article]

Polygon Research reported its recent study, with support from Willow Canyon Advisors and United Wholesale Mortgage (UWM), has concluded that the wholesale channel provides substantial savings for consumers on average [...]

Critical illness cover is a type of protection insurance that can help cover mortgage payments if you become ill and unable to work. It provides a lump sum payment upon diagnosis of a specified illness or medical condition, which can be used to pay off the mortgage, cover bills and expenses, or fund medical care. There are different types of critical illness cover available, including level term, decreasing term, and increasing term cover. It is important to consider critical illness cover because complex illnesses can have a significant impact on both health and finances, and state benefits and sick pay may not be sufficient. Additionally, critical illness cover can be added to a life cover policy and may be cheaper than having separate policies. It is recommended to consult with mortgage and protection brokers to navigate the process and ensure adequate protection. [Extracted from the article]

This article discusses how technology is improving the mortgage borrowing process. The author highlights the importance of speed and efficiency in mortgage applications, as delays can cause stress and uncertainty for borrowers. The use of technology, such as app-based lenders, has led to significant improvements in response times, with Atom bank reducing the time from application to offer to just three working days on average. The article also mentions Atom bank's support for first-time buyers, offering mortgage products with a low deposit requirement and increased loan-to-income caps. Additionally, the bank takes a more holistic approach to assessing borrowers, considering their individual circumstances rather than solely relying on credit scores. Overall, Atom bank aims to provide a smoother and more supportive experience for mortgage borrowers. [Extracted from the article]

Global Banking News-July 3, 2024-Eastern Union Adds Carroll as Broker in Company's Mid-Atlantic Regional Office (C)2024 ENPublishing - http://www.enpublishing.co.uk US-based commercial real estate finance firm Eastern Union has hired Alex [...]

The winners of the 2024 What Mortgage Awards have been announced, recognizing the best mortgage and homebuying businesses in the UK. The awards were determined by votes from consumers, and winners were revealed at a presentation in London. Among the winners was Meet Margo, a tech-first mortgage brokerage focused on closing the gender housing gap, which won the award for Best Mortgage Industry Newcomer. L&C Mortgages and Loans Warehouse were also recognized for their achievements in the mortgage industry. The full list of winners can be found on the What Mortgage website. [Extracted from the article]

Variable rate mortgages have fallen in popularity due to high interest rates, but with predictions of a base rate cut, they may become a suitable alternative to fixed-rate mortgages. Variable rates are directly impacted by the Bank of England base rate and can include tracker rates, standard variable rates (SVRs), and discounted rates. Currently, fixed rates are lower than variable rates, but variable rates offer flexibility and the potential for savings when interest rates fall. Ultimately, the decision to choose a variable rate mortgage depends on personal financial circumstances and the advice of mortgage brokers. [Extracted from the article]

This article discusses the importance of conducting research when looking for a conveyancing solicitor to handle the legal aspects of buying or selling a home. It explains that referral fees, which are fees paid by conveyancers or mortgage brokers to estate agents for recommending clients, can be confusing for those new to the process. The article advises against feeling obligated to use an estate agent's recommendation and emphasizes the importance of shopping around to find the right conveyancer. It also provides information on how to check if a conveyancing firm is regulated and offers resources for finding CLC-regulated conveyancers. [Extracted from the article]

Global Banking News-May 21, 2024--First Home Mortgage names new president (C)2024 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 21 May 2024 First Home Mortgage has said that Tim Whittier has [...]

The article from Woman's Own magazine provides financial advice on saving money, including tips on returning unwanted goods bought online, saving on energy costs, and reducing mortgage expenses. It also discusses the benefits of balance transfer credit cards and offers guidance on avoiding scams. Additionally, the article features a deal of the week and highlights the importance of monitoring fixed-rate savings accounts. Readers can find more information on these topics through various online resources mentioned in the article. [Extracted from the article]

The article "What is loan-to-value and how does it relate to my mortgage?" by Darren Polson explains the concept of loan-to-value (LTV) for first-time homebuyers. LTV is calculated by dividing the amount borrowed by the property value and multiplying by 100, with a lower LTV resulting in lower interest rates. Lenders prefer lower LTV ratios as they indicate a more affordable mortgage, and borrowers may need to cover any difference between the property value and the offer accepted. The article aims to clarify this mortgage jargon for readers navigating the homebuying process. [Extracted from the article]

The article discusses the pros and cons of tracker mortgages in anticipation of potential interest rate cuts in 2025. Darren Polson explains that tracker rates follow the Bank of England's base rate, while variable rates track the lender's Standard Variable Rate. Benefits of tracker rates include potential repayment decreases if the base rate drops, while drawbacks include possible increases in repayments if the base rate rises. It is recommended to consult a mortgage broker to explore all available options before making a decision. [Extracted from the article]

A recent survey conducted by The Mortgage Lender (TML) revealed that 96% of self-employed mortgage applicants found brokers to be helpful in understanding their needs when purchasing a home. Self-employed individuals, such as business owners, freelancers, and contractors, often face challenges in securing mortgages from traditional lenders due to complex income documentation requirements. Brokers were praised for their ability to guide applicants towards suitable mortgage products, improve credit scores, and simplify the application process. TML's distribution director emphasized the crucial role brokers play in assisting customers with specialized financial needs, such as self-employment, to navigate the mortgage process effectively and secure competitive rates. [Extracted from the article]

MortgagX, an AI-powered mortgage advisory platform, has expanded its capabilities to assist banks and lenders in the UK. The platform offers innovative tools for mortgage brokers, homebuyers, and now, financial institutions, including advanced speech-based AI assistants, direct connections between clients and lenders, automated decision-making engines, and intelligent risk assessment features. MortgagX aims to streamline the mortgage process for all stakeholders and is committed to revolutionizing the industry with its cutting-edge technology. [Extracted from the article]

HSBC has recently reduced mortgage rates, with cuts of up to 0.16% on two-year fixed-rate mortgages and up to 0.15% on five-year fixes. The lowest five-year deal is now 4.09% for Premier customers. Additionally, HSBC is expanding its Energy Efficient Homes Cashback mortgage to more customers, offering cashback for homes with an Energy Performance Certificate rating of A or B. These changes aim to assist customers in achieving their home ownership goals, with a focus on remaining competitive and appealing to a diverse range of clients. [Extracted from the article]

In January 2025, fixed rate mortgages have seen an increase in prices as lenders have raised interest rates on many products. While some lenders, like Virgin Money, have announced rate hikes, others, such as Coventry Building Society, have actually lowered their rates. The average two-year fixed rate is currently 5.52%, up from 5.47% two weeks ago, and the average five-year fixed rate is 5.30%, an increase from 5.24% earlier in the month. Borrowers should consider speaking to a broker or adviser to explore all available mortgage options, including tracker mortgages, as the Bank of England's potential interest rate cut in February may impact rates. [Extracted from the article]

The article "First-time buyer: Help me understand my mortgage statement" addresses the confusion faced by a young couple receiving their first mortgage offer. The couple is puzzled by the repayment figure of £250,000, despite purchasing a flat for £95,000. The expert, Darren Polson, explains that the mortgage offer outlines payments during the fixed rate period and after, including interest rates and fees. He advises that the couple is unlikely to stay on the lender's Standard Variable Rate for the full 30-year term and recommends consulting a mortgage broker for further guidance on rate switches and remortgaging. [Extracted from the article]

The document "YOUR SAY" from Choice magazine features reader submissions about various consumer experiences. Topics include questionable practices on Amazon, mortgage broker vs. bank loyalty costs, and positive experiences with solar panel suppliers. Readers share insights on digital scams, appliance reviews, and personal experiences with refunds in the video game industry. The document encourages readers to share their opinions and experiences with the CHOICE community. [Extracted from the article]

The article discusses the impact of potential rate cuts on mortgage rates in 2025 for individuals considering remortgaging. Mortgage expert Darren Polson advises that while the Bank of England's Base Rate may influence rates, banks also consider swap rates for mortgage lending. As individuals approach the end of their current deal, they have the option to remortgage with a new lender or switch to a new rate with their current lender. Polson recommends consulting a broker to explore the best rates and options available based on individual circumstances. [Extracted from the article]

HSBC has recently reduced mortgage rates for both residential and buy-to-let borrowers, following a similar move by Barclays. These rate cuts are seen as a positive development in response to stabilizing Swap rates. While not all lenders have adjusted their rates, the changes signal a trend towards market stability, prompting borrowers to seek advice from mortgage brokers for the most competitive deals. [Extracted from the article]

In a recent Q&A session, Darren Polson advises a buy-to-let landlord facing financial difficulties after a house sale fell through. The landlord is considering securing a short-term loan against their residential property to cover urgent bills. Polson suggests exploring options like remortgaging the property with additional borrowing, based on factors like loan-to-value and rental yield. He recommends consulting a mortgage broker specializing in buy-to-let mortgages for guidance on the process. [Extracted from the article]