Whitmore Financial

17/07/2025

Incase you haven’t watched the Panorama that was recently aired, here’s a quick read that you may find quite illuminating.

This has been an issue for years, but it’s important to note that the Panorama is highlighting cross selling in large corporate estate agents that offer multiple services. A lot of this revolves around staff feeling pressured to perform a task that is pushed down from the top of the corporate structure as each level is results driven, but there is a clear disconnect from the accountability at the top, so they can just say, “we weren’t aware and have made changes”, which slows the practice for a time and then it’s slowly re-introduced with aggressive targets that are unachievable.

The fact is that if we support the businesses that support this practice, we keep them in business. I hope that people sit up and take note and that as a result, there is a push towards the smaller, local estate agents in the area. The reason why these agencies are so much better for clients is that:

1 - there is direct accountability. A manager is often an owner or part owner and the reputation of that branch means the world to them.

2 - continuity of staff - whilst I accept this is antidotal, in my 15 plus years of brokering, both within corporate environments in my early days and building a business that works around the consumer, not the corporate, I have noted a huge difference between staff retention of small independent agencies in comparison to larger corporate agencies. This is partly because the head of the agency is often present and an owner, but that seems to create a happier workforce, likely due to that accountability element stated above.

3 - You engaged an estate agency for a service; to sell your home. That is what they do best and why you have entered a contact with them. Smaller agencies don’t often have a range of services and may recommend local businesses they trust, but they stick to what you instructed them for - selling your property. The focus on that element is hugely important as highlighted in the Panorama as it ensures the right person buys a property.

The caveat to this is that just because an estate agency is smaller and independent of the chains of a corporate structure, that does not qualify it as being “better” on that premise alone. Always do your due diligence, look for professionalism, enthusiasm and knowledge. That may mean getting a few opinions before instructing, but it’s important not only to hold an estate agent accountable for their effort, but also hold yourself accountable for yours.

And of course, whilst we cannot give you advice on what estate agency is best, should you ever need mortgage advice, you can always contact us on 01225 436400 and we will do our best to support your needs.

Signed

Andrew Whitmore

"How dare Connells do that? Just appalling."

The dubious sales tactics at two leading estate agencies uncovered by BBC Panorama.

Tap the link to read more ⤵️
https://bbc.in/451zTAn

25/07/2024

It’s with a heavy heart that today we had to bury our Chief of Security. He’s been put to rest here in the grounds of Black Dog Farm and now it’s our turn to watch over him.

Thank you for sharing your last years with us, Oscar. RIP little guy, the world will be a little quieter without you in it.

Say hello to the new Chief of Security here at Whitmore Financial! Oscar the Jack Russell is settling in well in his first week with us. He comes to us with a wealth of experience in the security sector, with over 10 years of keeping a farmstead safe from rodents and thieves alike. Being a terrier, he has had a tendency to bark when he meets a new client, so we apologise for any inconvenience this causes whilst he gets used to his new life here in the office. He’s an adorable little guy, so hopefully he’ll be forgiven for his terrier ways!

When you’re passing, feel free to come give Oscar some love!

24/07/2024

One of the most common clients we deal with are families who struggle to get time to discuss the important things like their mortgage. As a result, we have always done our best to work around a busy family household, often booking evening meetings to be able to give our clients the time they need to focus on the important financial decisions in their lives without distractions.

Not only does that help offer clarity in the conversation, but it also offers the opportunity to spend those other blocks of free time when their children are awake focusing on just being a family and making memories for years to come.

And with the school holidays coming up, National Trust are giving away 50,000 free family day passes to families around the UK, so if you’re stuck for something to do, we’d highly recommend stepping back in time with a visit to one of the many National Trust properties available, like this beautiful Lake District gem. Follow the link to register before the passes run out!

*EDIT - all 50,000 passes have been used.

(We are not affiliated with National Trust in any way)

24/11/2023

Happy Friday! Don’t you just love this photo?! What’s your favourite landmark in the South West?

07/11/2023

As people come to the end of their fixed rate period, there is often a fear that payments may double or even triple as a result of the increased rates in the marketplace at present. This has often been driven by a wealth of information, but a lack of context of the individual’s circumstances.

For example, if you borrow £100,000 on a repayment basis over a 25 year term with various interest rates, the payments would roughly look as follows:

2.0% = £424 per month
2.5% = £449 per month
4.2% = £539 per month
5.6% = £620 per month
6.5% = £675 per month

In this example, even when rates more than triple from the cheapest to the most expensive, the increase in monthly payment is approx 60% (£251) higher payments. If you borrowed over a 35 year term, you’d see payments increase by over 80% in the same calculation but with only 10 years left on your mortgage term, the impact is lessened to an increase of just over 20% to your payment schedule.

Whilst this is still a significant change to many borrowers, the important information to note is that interest rates will affect everyone’s payments differently and rather than fear the greater picture with no context to how it affects the individual, it’s often a good idea to ask the next question;

“How do the market changes affect me?”

We are always happy to help and welcome you giving us a call or message if you’d like to get some context of how the marketplace affects you personally.

14/08/2023

We saw this great infographic this month showing the property market pricing across England and Wales over the last 12 months, which would have taken into account the peak last year, the Truss budget, the 180° shortly after, the inflation increase and mortgage rates becoming so unpredictable.

We often get enquiries for purchases in the South West down to Devon and Cornwall, often for clients looking for holiday homes. Our primary face to face market is within the BA, BS, SN and GL postcodes, so it’s easy to keep track of the more local market conditions, but when you see how the wider market has been moving and shaking, the one that I found most interesting is the significant price drops being experienced in Cornwall and Devon, counties well known for people wanting to escape to for their holidays … could this be the result of hiked prices during covid now resettling after people have moved away from the big cities and are working from home?

What do you think?

Thanks to Jaine Whitfield Estate Agent, covering Corsham and Melksham areas for highlighting the infographic! Jaine’s very active on social media (in contrast to ourselves!) and offers some very valuable advice for homeowners and buyers alike!

19/10/2022

There has been turmoil in the marketplace over the last few months, but the last few weeks have been by far the largest reaction from the banking institution in regards to rates.

This has led to an increased number of applications over the last few weeks and some lenders have increased rates by upwards of 2% within the course of a week, leaving many potential buyers frightened of their options moving forward.

This week, since the mini-budget has been almost entirely dismantled, the financial markets appear to be stabilising and lenders are re-introducing increased product ranges, giving buyers and remortgaging clients more options and opportunity to obtain a better product for their needs.

There has also been a significant reduction in rates for the first time, with Principality Building Society reducing selected fixed rate products by up to 0.45%

Whilst we will have to see what the future holds with the ever constant change we’re seeing, this appears to be the first positive reactions we are seeing regarding a market that has been, at least most recently, creating significant concern and fear for many families who have alright tight budgets to work within.

If you’d like any advice regarding your mortgage, you’re welcome to contact us via the “Message” button and we’ll come back as soon as we can. Alternatively, we’re available on 01225 436400

The new chancellor has outlined a host of policy changes. This is how is affects your finances.

03/10/2022

If you’ve been worried over the last week with the media frenzy surrounding the economy and mortgage rates, the update today may have a positive impact on the current economic viewpoint and stability may be seen soon afterwards.

Yes, there may be some damage that is already done and cannot be “undone” as such, but we will have to see how the next few days plays out in the hope that this will stabilise the mortgage market moving forward.

Kwasi Kwarteng says the proposals, announced just 10 days ago, had become "a distraction".

05/08/2022

Since March 2020 with the Covid-19 outbreak, the mortgage market has been noticeably unpredictable and volatile, with rates going sharply up, then coming down after the first lockdown, now back up again with the cost of living and international affairs, lenders constantly changing criteria to deal with rapidly changing market conditions, all whilst the housing market itself has been strained with not enough new properties becoming available for the potential number of buyers looking, meaning prices have rocketed over that same period, sometimes resulting in mortgage lenders being unwilling to accept prices being paid for properties (known as down-valuations) and refusing to lend based on the price agreed.

But through it all with some lenders recently stating they are taking 20 plus working days to assess mortgage cases (where they used to take only 3 - 4 working days previously) and an ever trickier client base to work with after personal changes to their income, career changes through covid, self employment peaks and troughs, the mortgage intermediary market (the professional brokers working on your behalf) has been blessed with some incredible business development managers working long hours for a solid two years to help us brokers manage client expections, over-turn case declines, get cases through to offer as a priority where needed and generally just being a hugely important and undervalued link between the intermediary market and the lenders.

To our clients, the business development manager is the single point of contact that each bank offers our brokerage to deal with cases that are, for lack of a better term, falling off the rails and need some human intervention and support to get things back on track.

So this is just a post to say thank you to those amazing people who work so hard every day to help us help our clients and to say we really appreciate all of the support we get from you.

Most of our clients may not see all the hard work that happens in the background, but those that have really difficult cases are always so thankful for the support we as a firm give them and we know we can only do that with the support of such an amazing team of BDMs!

Happy Friday and we hope you all take some well earned time off this weekend!

06/04/2022

Since the Covid outbreak in 2020, Whitmore Financial has had to change, adapt and work hard to meet the needs of an ever changing market. As government legislation made face to face appointments more difficult to offer, we made the decision to move to remote working as many others did, effectively shutting the Bath office space in the process.

Equally as the effects of covid (regarding face to face interaction) has been relaxing more over the last 6 months and the government legislation has removed any restrictions associated with covid, we have been spending our time creating a new, inviting office space again.

Over the last couple years we have loved working from the farm again and did miss it when we began our move to Bath, so we have decided to keep our workspace at Black Dog Farm, albeit in a different area of the farm. So this will be the last month where clients will use this doorbell or letterbox and we’re looking forward to that new chapter of welcoming clients to the office without a prior appointment.

We appreciate the continued support from those we value so much that have kept the wheels of our business moving and referred our name to others. We have always been a business that values the concept of word of mouth and we have built the foundations of our business with your recommendations of our work, so we thank each and every person who has helped to pass our details onto others.

Your patience and understanding in how covid changed the way we had to operate has been very much appreciated and we look forward to many, many more years of supporting our clients find their new homes as we welcome them to ours.

05/11/2021

Feeling like your mortgage broker rushes you through a process without explaining things in a way you fully understand? Does it feel as though you’re on a conveyer belt and just want to slow down and rewind, but feel uncomfortable doing so?

Our aim is to get you the best mortgage we can in your personal circumstances, but Whitmore Financial take pride in moving at a pace that suits our clients and take account of their needs, whether that be via a quick telephone conversation and emails, or turning the electronics off altogether and having a more traditional conversation over a cuppa at a time to suit a busy work or family life.

Happy Friday!