Michael Aglony
Mortgages for Business
Blog Synopsis
Views, news and opinions on the Buy to Let mortgage market from Mortgages for Business.
Other Posts by Michael Aglony
- So what's next after Base Rate is held at 0.5% again?
- Data indicates property market progress!
- Improved Funding for landlords
- At last - Funding for HMOs, Freehold Conversions & Limited Companies returns! 23.07.2009
- Survey's report increases in house prices - 15.05.2009
- Base Rate stays at 0.5% for a second month - 07.05.2009
- Base Rate remains unchanged at 0.5% - 09.04.2009
- As the market bottoms out, now is the time to secure that property bargain - 03.04.2009
- The Turner Review may impact Buy to Let warns Lord Turner
- Now that Base rate has dropped to 0.5% it's time to fix!
- Northern Rock resumes lending - what will be its impact?
- Will everyone benefit from the 0.5% Base Rate cut?
- Bank Base Rate now seems set for 0.5% cut on Thursday
- B&B appoint Mortgages for Business for early repayment charge clients
- It looks like Bank of England Base Rate could drop to 1% next week
- Will Base Rate stay below 5% in 2009?
- It's all about cashflow!
- Mortgage Express are waiving all Early Repayment Charges!
- SWAP rates and LIBOR rates on the move in 2009 - 13.01.2009
- Bank of England Base Rate cut by 0.5%. How will this effect Buy to Let? - 08.01.2009
- Market awaits Year End movements at Banks
- Merry Christmas and here's to a better 2009!
- 3 month LIBOR continues to ease slowly - 16.12.2008
- LIBOR, SWAP rates, base rate and interest rates - we're seeing history being made - 11.12.2008
- Base Rate reduced to 2%
- The return of Buy to Let as a commercial transaction
Increase in fixed rates as "perceived" inflationary pressures start to build. 22.06.2009
Monday, June 22, 2009
Mervyn King hinted in his Mansion House speach that there were some signs that quantitative easing was starting to work and that the £125Bn injection may be sufficient - I really hope so !!
The SWAP markets had already reached the same conclusion with 3 year SWAP rates bottoming out in February at 2.3%, having hit 3.11% earlier this month but now bacl at 2.98%; we doubt that it will suatain a sub 3% position for very long. And sadly lenders have reached the same view and have been gently pricing upward on prodcuts to absorb a likley higher level of underlying pricing.
On the plus side lenders are looking forwards and starting to initiate discussions about criteria improvements and changes to product profile. Rest assured this has not been a topic of discussion since the autumn of 2007. Two niche lenders are looking at new Buy to Let offerings that might cater for limited companies or HMO properties, albeit at a price. The judgement, thereafter, is whether the ability to raise extra capital and perhaps conclude an additional deal is justifiable against a higher cost.
We will get back to you with an e-newsletter in the next week or two but if you want to chat through any scenarios in the meanwhile we can formulate a plan with you that is ready to go when the lenders start to change their stance.
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