Fee free Mortgage Advice from David Search Mortgage Solutions
Completely Fee free Mortgage Advice from David at Search Mortgage Solutions
100% fee free whole of Market Mortgage Brokers
At Search Mortgage Solutions we are more than pleased to answer any questions you have in relation to your mortgage queries, whether its related to a current mortgage arrangement or you are purchasing a new property and want the most suitable deals available at this moment in time to suit your circumstances. Search Mortgage Solutions can offer advice on First time buyer mortgages , Home mover mortgages , re mortgages and more specialist areas ie Debt consolidation mortgages , Bad credit mortgages and self-employed mortgages
Totally fee free whole of market mortgage broker
Think carefully before securing your debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Buy to Let Mortgages are not regulated by the Financial Conduct Authority
You can email us at email@example.com and we will respond promptly or call us directly on 0800 756 7794
Our address is 125 Deansgate, Manchester, M3 2BY
Your home may be repossessed if you do not keep up repayments on your mortgage
Search Mortgage Solutions is a trading style of David Sharples which is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority.
Quilter Mortgage Planning Limited is entered on the FCA register under reference 440718.
The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
Is it time for a Financial Spring Clean with regard to your Mortgage Loan needs?.
Yet another Bank of England Base Rate from 0.5% to 0.75%
(Source: Bank of England, 17 March 2022)
As we proceed through 2022, there remains a desire to move home (with many looking for a different way to live), balanced by a lack of available properties to purchase. Plus, there is still Covid, and concerns over rising costs, with inflation already standing at over 5%.
These concerns will be further exacerbated by the recently announced energy cost rise, which applies from April and, quite apart from the more worrying humanitarian issues, the impact on costs attributable to the war in Ukraine.
These have all been contributory factors in the Bank of England increasing its Base Rate for the third meeting in a row, with the knock-on effect for mortgage rates. (Sources: Office for National Statistics, Consumer Price Inflation; February 2022; Bank of England, 17 March 2022)
Still Excellent deals… That said, even though the direction of travel for interest rates is upwards, rises are coming from a record low base, which means that there are still decent deals out there.
For a wide range of borrowers (such as the following), perhaps now is the time toact to lock-in the current deals: - Looking to secure their first property loan. - Have a mortgage deal that is due for review in the next 6 months or so. - Existing borrowers who simply want to obtain a decent interest rate now and/or raise more funds. - Those who need more living space, either within their current home, or elsewhere. - Others may be worried that further cost of living rises could impact on their mortgage affordability calculations into the future.
House Prices The average UK house price rose by 12.6% in the year to February 2022. (Source: Nationwide, House Price Index, February 2022)
Whilst growth is expected to ease to single digits over 2022, rises in the last few years may have been beneficial for current homeowners. It might even open up better rate deals, if borrowing against a property that has risen in value over recent years.
Lender requirements Borrowers will be well aware that lenders continue to apply stringent controls on the ‘evidencing of income’ and ‘affordability’.
However, whilst the cost of living rises will not ease this situation, the Bank of England is looking to consult on possibly withdrawing, or easing, the ‘affordability’ requirements sometime in 2022.
This rule currently requires lenders to ensure that borrowers can afford a 3% rise in their mortgage interest rate before approving an application. If removed, or eased, it would then open up more property and borrowing options for purchasers and remortgagers.
Low deposit deals Deals such as 95% and 90% loan-to-value may have bucked the trend in rising rates,as average rates have largely remained stable over recent months. This is partly a reflection of the enthusiasm of the Government to support the First-Time Buyer. (Source: Moneyfacts, March 2022)
Green Mortgages With a lot of talk about rising energy costs, it’ll focus the mind of many to seek out more energy-efficient properties or renovate the existing one. This is where a Green Mortgage could be of interest - a product offering that’s sure to grow in popularity.
Why you should talk to us With so many options to consider, it can be quite confusing. For example, there are the enticing headline rates (where you’ll also need to consider the associated lender fees), the option of a fixed or tracker rate, the length of the overall mortgage deal, and all the information lenders require.
So, it’s no wonder that most opt to take our professional advice to help identify a suitable route forward.
If you wish to discuss further or require more information, we can arrange a meeting over the phone or at our office on Deansgate
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