01 Feb London Mortgage broker says “Wonderful start to 2013 continues!”
Every day sees a flurry of positive headlines in the magical world of financial services.
2013 has brought competition back into the market, with the following details being sent our way recently:
- “Halifax to cut rates by up to 0.5%”
- “Skipton cuts rates by up to 0.34%”
- “Land registry shows property prices up 0.8% in December”
- “Nationwide cut tracker rates by up to 0.5%”
- “Barclays to slash rates by up to 0.5%”
- “FTSE breaks thru the 6300 mark”
Confidence in the financial market
With headlines like these you would be hard pushed to find this anything other than great news. With the recapitalisation of the banks progressing well and write downs hopefully reducing (bless their cotton socks), confidence in the market has given the lenders some appetite for risk.
As a top London Mortgage Broker, we’ve noticed rates available to buyers with a 10% or 15% deposit have dramatically improved in the early weeks of 2013.
London Mortgage Broker anticipates a good financial year!
Every week the lenders send their Business Development Managers over to Just Us HQ telling us that they what they anticipate gross lending will increase to in 2013 (£150bn is a common target). Even the Lloyds Banking group representative says that they are going to have a good year!
Why, you may ask, are they so confident that this is achievable?
Simple…. at its peak, gross mortgage lending by the banks stood at £350 Billion. Still huge scope for the banks to expand their market share.
With London property prices steadily increasing the Euro crisis behind us (…??), lending rates falling, mortgage approvals at a 5 month high and some strong yields, the London market is looking peachy.
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